AvePoint (NASDAQ:AVPT) Sets New 12-Month High – Here’s What Happened

AvePoint, Inc. (NASDAQ:AVPT) reached a new 52-week high on Thursday . The stock traded as high as $19.45 and last traded at $19.42, with a volume of 1102404 shares changing hands. The stock had previously closed at $19.12.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Citigroup boosted their price objective on AvePoint from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

AvePoint Stock Up 1.6 %

The firm has a market capitalization of $3.63 billion, a P/E ratio of -388.32 and a beta of 1.02. The stock has a fifty day simple moving average of $17.75 and a 200 day simple moving average of $14.21.

Insider Activity at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $15.77, for a total value of $157,700.00. Following the sale, the insider now owns 18,310,673 shares in the company, valued at $288,759,313.21. The trade was a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Caci sold 20,215 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,215 shares of company stock valued at $831,581. 27.78% of the stock is owned by company insiders.

Institutional Trading of AvePoint

Several hedge funds have recently modified their holdings of AVPT. Global Retirement Partners LLC bought a new stake in AvePoint in the fourth quarter worth $25,000. Heck Capital Advisors LLC purchased a new position in shares of AvePoint in the 4th quarter worth $29,000. National Bank of Canada FI bought a new stake in shares of AvePoint in the 3rd quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of AvePoint during the 4th quarter valued at about $45,000. Finally, Principal Securities Inc. lifted its holdings in shares of AvePoint by 12,961.9% in the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock valued at $45,000 after acquiring an additional 2,722 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

About AvePoint

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.