AvePoint (NASDAQ:AVPT) Hits New 52-Week High - Should You Buy?

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.98 and last traded at $12.95, with a volume of 65937 shares trading hands. The stock had previously closed at $12.51.

Analysts Set New Price Targets

Several research analysts recently commented on AVPT shares. 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. Northland Securities raised their price target on AvePoint from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, August 9th.

AvePoint Price Performance

The company has a market cap of $2.44 billion, a PE ratio of -160.63 and a beta of 0.88. The firm's 50 day moving average is $11.92 and its 200 day moving average is $10.46.

AvePoint (NASDAQ:AVPT - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The firm had revenue of $77.96 million during the quarter, compared to the consensus estimate of $75.17 million. During the same period in the previous year, the company posted ($0.07) EPS. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, analysts anticipate that AvePoint, Inc. will post -0.09 EPS for the current year.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the completion of the sale, the insider now directly owns 18,460,673 shares in the company, valued at $198,821,448.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Zhijian Lu sold 10,000 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the sale, the insider now owns 18,460,673 shares of the company's stock, valued at approximately $198,821,448.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Caci sold 30,000 shares of AvePoint stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total value of $327,300.00. Following the completion of the transaction, the chief financial officer now owns 630,084 shares in the company, valued at approximately $6,874,216.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,000 shares of company stock worth $1,724,500 in the last ninety days. 27.78% of the stock is currently owned by insiders.

Institutional Trading of AvePoint

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of AvePoint by 33.7% during the second quarter. Millennium Management LLC now owns 641,862 shares of the company's stock valued at $6,688,000 after buying an additional 161,759 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in AvePoint in the second quarter worth about $548,000. Sei Investments Co. purchased a new position in shares of AvePoint during the second quarter valued at approximately $1,503,000. Acadian Asset Management LLC purchased a new stake in shares of AvePoint in the 2nd quarter worth approximately $2,250,000. Finally, Harbor Capital Advisors Inc. bought a new stake in AvePoint in the third quarter worth $1,404,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Company Profile

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.