AvePoint (NASDAQ:AVPT) Hits New 1-Year High - Here's Why

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $19.16 and last traded at $18.53, with a volume of 1426148 shares changing hands. The stock had previously closed at $18.89.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.20.

AvePoint Stock Up 0.8 %

The firm has a market cap of $3.49 billion, a P/E ratio of -373.40 and a beta of 0.99. The business has a fifty day moving average of $14.45 and a 200 day moving average of $11.91.

Insider Buying and Selling

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total value of $117,300.00. Following the completion of the transaction, the insider now directly owns 18,410,673 shares of the company's stock, valued at approximately $215,957,194.29. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Caci sold 20,215 shares of the stock in a transaction dated 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 owns 591,890 shares of the company's stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,215 shares of company stock valued at $1,795,881 in the last 90 days. 27.78% of the stock is owned by insiders.

Institutional Investors Weigh In On AvePoint

Large investors have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in AvePoint by 8.0% in the 3rd 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. National Bank of Canada FI acquired a new position in AvePoint during the third quarter worth $29,000. Cerity Partners LLC grew its position in AvePoint by 6.6% in the third quarter. Cerity Partners LLC now owns 41,499 shares of the company's stock valued at $488,000 after purchasing an additional 2,571 shares in the last quarter. Creative Planning increased its stake in AvePoint by 19.1% in the 3rd 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 last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in AvePoint by 14.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company's stock worth $337,000 after buying an additional 5,316 shares in the last quarter. 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.