AvePoint (NASDAQ:AVPT) Reaches New 12-Month High – Should You Buy?

AvePoint, Inc. (NASDAQ:AVPT)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.98 and last traded at $12.95, with a volume of 65937 shares. The stock had previously closed at $12.51.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Northland Securities upped their price objective on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald increased their price target on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th.

AvePoint Trading Up 3.0 %

The stock has a fifty day simple moving average of $11.88 and a 200-day simple moving average of $10.42. The company has a market capitalization of $2.41 billion, a PE ratio of -156.38 and a beta of 0.88.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The business had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. As a group, equities research analysts predict that AvePoint, Inc. will post -0.09 EPS for the current year.

Insider Activity at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the transaction, the insider now directly owns 18,460,673 shares in the company, valued at approximately $198,821,448.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the transaction, the insider now directly owns 18,460,673 shares in the company, valued at $198,821,448.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Caci sold 30,000 shares of AvePoint 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 completion of the sale, the chief financial officer now directly owns 630,084 shares in the company, valued at $6,874,216.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,000 shares of company stock worth $1,724,500 in the last quarter. Company insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

A number of institutional investors have recently added to or reduced their stakes in AVPT. GSA Capital Partners LLP purchased a new position in AvePoint during the third quarter worth $394,000. Lisanti Capital Growth LLC purchased a new stake in AvePoint in the 3rd quarter worth approximately $1,424,000. Sheets Smith Wealth Management raised its holdings in AvePoint by 64.8% in the 3rd quarter. Sheets Smith Wealth Management now owns 37,152 shares of the company’s stock valued at $437,000 after acquiring an additional 14,614 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in AvePoint during the third quarter worth about $1,404,000. Finally, US Bancorp DE increased its stake in shares of AvePoint by 8.0% during 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 during the last quarter. 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.