AvePoint (NASDAQ:AVPT) Sees Large Volume Increase

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) shares saw strong trading volume on Wednesday . 3,330,866 shares traded hands during trading, an increase of 224% from the previous session's volume of 1,027,543 shares.The stock last traded at $11.78 and had previously closed at $11.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald raised their target price on AvePoint from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Northland Securities raised their target price on AvePoint from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, August 9th.

AvePoint Trading Up 0.2 %

The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -145.00 and a beta of 0.89. The stock has a 50-day moving average price of $10.64 and a 200 day moving average price of $9.17.

AvePoint (NASDAQ:AVPT - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) 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 analyst estimates of $75.17 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The company's quarterly revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer now directly owns 630,084 shares in the company, valued at approximately $6,874,216.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other AvePoint news, CFO James Caci sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total value of $327,300.00. Following the transaction, the chief financial officer now directly owns 630,084 shares of the company's stock, valued at approximately $6,874,216.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $10.37, for a total transaction of $207,400.00. Following the completion of the transaction, the insider now directly owns 1,297,373 shares in the company, valued at $13,453,758.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $1,183,200. Insiders own 27.78% of the company's stock.

Institutional Trading of AvePoint

Several institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in AvePoint in the second quarter valued at approximately $83,000. Algert Global LLC purchased a new stake in AvePoint in the second quarter valued at approximately $116,000. Bayesian Capital Management LP purchased a new stake in AvePoint in the first quarter valued at approximately $130,000. nVerses Capital LLC purchased a new stake in AvePoint in the second quarter valued at approximately $173,000. Finally, SG Americas Securities LLC raised its position in AvePoint by 44.2% in the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company's stock valued at $132,000 after purchasing an additional 5,125 shares during the period. Hedge funds and other institutional investors own 44.49% of the company's stock.

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.