AvePoint (NASDAQ:AVPT) Reaches New 52-Week High – Here’s What Happened

AvePoint, Inc. (NASDAQ:AVPT)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.76 and last traded at $18.76, with a volume of 3070 shares trading hands. The stock had previously closed at $18.57.

Analysts Set New Price Targets

Several research analysts have recently commented on AVPT shares. The Goldman Sachs Group lifted their target price on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald raised their price target on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Northland Securities upped their price objective on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two research 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 a consensus price target of $13.20.

AvePoint Price Performance

The firm has a 50-day moving average price of $13.04 and a 200 day moving average price of $11.18.

Insider Activity at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total transaction of $117,300.00. Following the transaction, the insider now directly owns 18,410,673 shares of the company’s stock, valued at approximately $215,957,194.29. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,215 shares of company stock worth $1,795,881 in the last ninety days. 27.78% of the stock is owned by company insiders.

Institutional Trading of AvePoint

Several large investors have recently modified their holdings of AVPT. National Bank of Canada FI bought a new stake in shares of AvePoint during the 3rd quarter worth approximately $29,000. Canada Pension Plan Investment Board bought a new stake in AvePoint during the second quarter worth $83,000. Balboa Wealth Partners acquired a new stake in shares of AvePoint in the 3rd quarter valued at $125,000. Algert Global LLC bought a new position in shares of AvePoint in the 2nd quarter valued at $116,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of AvePoint during the 3rd quarter worth $171,000. 44.49% of the stock is owned by institutional investors and hedge funds.

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.