AvePoint (NASDAQ:AVPT) Hits New 52-Week High - Here's Why

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $19.20 and last traded at $19.00, with a volume of 473419 shares trading hands. The stock had previously closed at $18.72.

Analyst Ratings Changes

AVPT has been the topic of a number of recent research reports. Citigroup lifted their target price on AvePoint from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. The Goldman Sachs Group raised their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

AvePoint Stock Performance

The company has a 50-day simple moving average of $17.72 and a 200-day simple moving average of $14.17. The stock has a market cap of $3.57 billion, a P/E ratio of -382.32 and a beta of 1.02.

Insider Buying and Selling

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $15.77, for a total value of $157,700.00. Following the transaction, the insider now directly owns 18,310,673 shares in the company, valued at approximately $288,759,313.21. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Caci sold 20,215 shares of the business'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 sale, the chief financial officer now owns 591,890 shares of the company's stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,215 shares of company stock worth $831,581 in the last 90 days. Corporate insiders own 27.78% of the company's stock.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently modified their holdings of AVPT. Global Retirement Partners LLC bought a new stake in AvePoint in the fourth quarter valued at about $25,000. National Bank of Canada FI acquired a new position in AvePoint during the third quarter valued at approximately $29,000. Heck Capital Advisors LLC bought a new stake in AvePoint in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in AvePoint in the fourth quarter worth $45,000. Finally, Principal Securities Inc. raised its holdings in AvePoint by 12,961.9% in the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock worth $45,000 after purchasing an additional 2,722 shares during the period. Institutional investors and hedge funds 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.