AvePoint (NASDAQ:AVPT) Sets New 12-Month High - What's Next?

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) shares 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 trading hands. The stock had previously closed at $19.35.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVPT shares. Citigroup upped their target price on shares of AvePoint from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. The Goldman Sachs Group increased their target price on shares of AvePoint from $7.50 to $15.00 and gave the stock 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.00.

AvePoint Stock Performance

The business's fifty day simple moving average is $17.93 and its 200-day simple moving average is $14.72. The firm has a market capitalization of $3.63 billion, a PE ratio of -388.72 and a beta of 1.02.

Insider Buying and Selling at AvePoint

In related news, CFO James Caci sold 20,215 shares of the firm's 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the sale, the insider now owns 18,270,673 shares of the company's stock, valued at approximately $312,793,921.76. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.78% of the company's stock.

Institutional Trading of AvePoint

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning increased its stake in shares of AvePoint by 19.1% during the third quarter. Creative Planning now owns 29,345 shares of the company's stock valued at $345,000 after buying an additional 4,698 shares during the period. Consolidated Portfolio Review Corp acquired a new position in shares of AvePoint during the third quarter valued at about $611,000. Smith Group Asset Management LLC increased its holdings in shares of AvePoint by 24.9% during the third quarter. Smith Group Asset Management LLC now owns 53,304 shares of the company's stock valued at $627,000 after acquiring an additional 10,614 shares in the last quarter. US Bancorp DE increased its holdings in shares of AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company's stock valued at $220,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in AvePoint in the third quarter valued at approximately $1,404,000. 44.49% of the stock is currently owned by institutional investors.

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.