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

AvePoint, Inc. (NASDAQ:AVPT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.78 and last traded at $19.70, with a volume of 636641 shares. The stock had previously closed at $19.35.

Wall Street Analyst Weigh In

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

AvePoint Stock Performance

The stock has a 50-day moving average of $17.92 and a 200 day moving average of $14.60. The firm has a market capitalization of $3.63 billion, a P/E ratio of -388.72 and a beta of 1.02.

Insider Transactions at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.66, for a total value of $156,600.00. Following the completion of the sale, the insider now directly owns 18,290,673 shares of the company’s stock, valued at $286,431,939.18. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,215 shares of company stock worth $673,881. Insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several hedge funds have recently added to or reduced their stakes in AVPT. Harbor Capital Advisors Inc. bought a new position in shares of AvePoint in the 3rd quarter valued at about $1,404,000. Quantbot Technologies LP boosted its stake in AvePoint by 142.8% in the third quarter. Quantbot Technologies LP now owns 153,747 shares of the company’s stock valued at $1,810,000 after acquiring an additional 90,413 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in AvePoint during the 3rd quarter worth $1,424,000. The Manufacturers Life Insurance Company raised its position in shares of AvePoint by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock valued at $824,000 after acquiring an additional 5,352 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of AvePoint in the 3rd quarter valued at $2,970,000. Institutional investors 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.