AvePoint (NASDAQ:AVPT) Reaches New 1-Year High – Here’s What Happened

AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.84 and last traded at $18.70, with a volume of 699950 shares changing hands. The stock had previously closed at $18.22.

Analyst Ratings Changes

Several brokerages have recently commented on AVPT. The Goldman Sachs Group boosted their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Northland Securities upped their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald raised their price objective on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

AvePoint Trading Down 0.5 %

The stock has a market cap of $3.48 billion, a P/E ratio of -373.00 and a beta of 1.00. The business’s fifty day simple moving average is $14.04 and its 200 day simple moving average is $11.70.

Insider Activity

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the sale, the insider now directly owns 18,410,673 shares of the company’s stock, valued at approximately $215,957,194.29. The trade was a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Caci sold 20,215 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 591,890 shares in the company, 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. Insiders have sold 130,215 shares of company stock valued at $1,795,881 over the last three months. 27.78% of the stock is owned by insiders.

Institutional Trading of AvePoint

Institutional investors have recently bought and sold shares of the business. 272 Capital LP acquired a new position in shares of AvePoint in the 3rd quarter valued at $1,426,000. Franklin Resources Inc. increased its holdings in AvePoint by 2.3% in the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after purchasing an additional 27,191 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in AvePoint in the third quarter valued at about $1,094,000. Ashford Capital Management Inc. boosted its holdings in AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after buying an additional 99,505 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of AvePoint by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after buying an additional 133,156 shares during the period. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.