AvePoint (NASDAQ:AVPT) Hits New 52-Week High at $10.47

AvePoint, Inc. (NASDAQ:AVPT) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.47 and last traded at $10.47, with a volume of 1390 shares changing hands. The stock had previously closed at $10.42.

Analyst Upgrades and Downgrades

Separately, Northland Securities upped their price objective on AvePoint from $12.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th.

AvePoint Price Performance

The business’s 50-day simple moving average is $9.04 and its two-hundred day simple moving average is $8.32. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -128.50 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. The company had revenue of $74.53 million for the quarter, compared to the consensus estimate of $72.33 million. During the same quarter last year, the business posted ($0.05) EPS. AvePoint’s revenue for the quarter was up 25.1% on a year-over-year basis. Equities research analysts forecast that AvePoint, Inc. will post -0.05 earnings per share for the current year.

Insider Activity

In related news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $7.86, for a total transaction of $157,200.00. Following the sale, the insider now directly owns 1,351,240 shares in the company, valued at approximately $10,620,746.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO James Caci sold 40,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $9.04, for a total value of $361,600.00. Following the completion of the sale, the chief financial officer now owns 665,097 shares of the company’s stock, valued at $6,012,476.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total value of $157,200.00. Following the completion of the transaction, the insider now directly owns 1,351,240 shares in the company, valued at $10,620,746.40. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock valued at $907,200 over the last quarter. 27.78% of the stock is owned by company insiders.

Institutional Trading of AvePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new position in shares of AvePoint in the 4th quarter worth approximately $47,000. SG Americas Securities LLC acquired a new position in AvePoint in the fourth quarter valued at $95,000. Bayesian Capital Management LP bought a new stake in AvePoint during the first quarter valued at $130,000. Quadrature Capital Ltd acquired a new stake in AvePoint during the 4th quarter worth about $148,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AvePoint in the 4th quarter worth about $158,000. 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.