AvePoint (NASDAQ:AVPT) Reaches New 52-Week High at $11.50

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $11.50 and last traded at $11.50, with a volume of 14170 shares trading hands. The stock had previously closed at $10.77.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVPT. Northland Securities lifted their target price on shares of AvePoint from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. Cantor Fitzgerald raised their price target on shares of AvePoint from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Friday, August 9th.

AvePoint Trading Up 6.9 %

The firm has a market cap of $2.13 billion, a PE ratio of -146.88 and a beta of 0.89. The firm has a fifty day simple moving average of $10.46 and a two-hundred day simple moving average of $9.03.

AvePoint (NASDAQ:AVPT - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). The business had revenue of $77.96 million during the quarter, compared to analysts' expectations of $75.17 million. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. The business's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. Equities analysts expect that AvePoint, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $9.05, for a total transaction of $181,000.00. Following the transaction, the insider now owns 1,323,930 shares in the company, valued at approximately $11,981,566.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the firm's stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the transaction, the insider now owns 1,323,930 shares of the company's stock, valued at $11,981,566.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Caci sold 30,000 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the sale, the chief financial officer now owns 630,084 shares in the company, valued at approximately $6,874,216.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,000 shares of company stock valued at $1,364,200. Corporate insiders own 27.78% of the company's stock.

Institutional Investors Weigh In On AvePoint

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of AvePoint by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company's stock valued at $119,192,000 after purchasing an additional 89,564 shares during the last quarter. Principal Financial Group Inc. raised its stake in AvePoint by 370.3% during the first quarter. Principal Financial Group Inc. now owns 80,697 shares of the company's stock valued at $639,000 after buying an additional 63,538 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in AvePoint during the fourth quarter valued at $3,590,000. CenterBook Partners LP bought a new stake in AvePoint in the fourth quarter worth $1,097,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AvePoint by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company's stock worth $236,000 after acquiring an additional 4,005 shares during the last quarter. Hedge funds and other 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.