AvePoint (NASDAQ:AVPT) Reaches New 1-Year High at $10.54

AvePoint, Inc. (NASDAQ:AVPT)’s share price reached a new 52-week high on Monday . The company traded as high as $10.54 and last traded at $10.54, with a volume of 68474 shares. The stock had previously closed at $10.34.

Wall Street Analyst Weigh In

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

AvePoint Trading Up 1.7 %

The business has a fifty day simple moving average of $9.40 and a two-hundred day simple moving average of $8.42.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS 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 firm had revenue of $74.53 million during the quarter, compared to analyst estimates of $72.33 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, equities analysts forecast that AvePoint, Inc. will post -0.05 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On AvePoint

Several hedge funds have recently made changes to their positions in AVPT. Harvest Fund Management Co. Ltd acquired a new position in shares of AvePoint in the 4th quarter valued at $47,000. Bayesian Capital Management LP acquired a new stake in AvePoint during the 1st quarter worth about $130,000. SG Americas Securities LLC grew its position in AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after purchasing an additional 5,125 shares during the period. Quadrature Capital Ltd acquired a new stake in AvePoint during the 4th quarter worth about $148,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in AvePoint during the 4th quarter worth about $158,000. 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.