AvePoint (NASDAQ:AVPT) Sets New 1-Year High – Here’s What Happened

AvePoint, Inc. (NASDAQ:AVPT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.78 and last traded at $19.70, with a volume of 636641 shares traded. The stock had previously closed at $19.35.

Analysts Set New Price Targets

AVPT has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Citigroup lifted their price target on AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, AvePoint has an average rating of “Moderate Buy” and an average target price of $15.00.

AvePoint Price Performance

The firm’s 50-day simple moving average is $17.88 and its 200 day simple moving average is $14.51. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -395.92 and a beta of 1.02.

Insider Transactions at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the completion of the transaction, the insider now directly owns 18,270,673 shares in the company, valued at approximately $312,793,921.76. This represents a 0.05 % decrease in their position. The sale was disclosed in a legal 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 in the company, valued at $10,133,156.80. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,215 shares of company stock valued at $673,881. Corporate insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Hedge funds have recently added to or reduced their stakes in the business. Mariner LLC acquired a new stake in shares of AvePoint in the 4th quarter valued at about $183,000. Barclays PLC grew its stake in AvePoint by 11.6% in the fourth quarter. Barclays PLC now owns 230,341 shares of the company’s stock valued at $3,803,000 after acquiring an additional 23,983 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of AvePoint by 8.4% during the fourth quarter. Ameritas Investment Partners Inc. now owns 13,475 shares of the company’s stock valued at $222,000 after acquiring an additional 1,042 shares in the last quarter. Next Century Growth Investors LLC acquired a new position in shares of AvePoint during the fourth quarter worth approximately $10,044,000. Finally, Raymond James Financial Inc. acquired a new position in shares of AvePoint during the fourth quarter worth approximately $18,067,000. 44.49% of the stock is currently owned by institutional investors.

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.