AvePoint (NASDAQ:AVPT) Hits New 1-Year High – What’s Next?

AvePoint, Inc. (NASDAQ:AVPT) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.45 and last traded at $19.42, with a volume of 1102404 shares trading hands. The stock had previously closed at $19.12.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup increased their price target on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. The Goldman Sachs Group increased their target price 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 MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

AvePoint Trading Up 0.7 %

The firm’s fifty day moving average is $17.81 and its 200 day moving average is $14.30. The company has a market cap of $3.61 billion, a PE ratio of -386.12 and a beta of 1.02.

Insider Transactions at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred 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 sale, the insider now directly owns 18,270,673 shares of the company’s stock, valued at $312,793,921.76. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Caci sold 20,215 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,215 shares of company stock valued at $831,581 over the last 90 days. Corporate insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several hedge funds and other institutional investors have recently modified their holdings of AVPT. Moran Wealth Management LLC raised its holdings in AvePoint by 2.2% in the 4th quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock valued at $818,000 after acquiring an additional 1,083 shares during the last quarter. SVB Capital Management LLC acquired a new stake in shares of AvePoint in the fourth quarter valued at approximately $480,000. Lisanti Capital Growth LLC increased its holdings in shares of AvePoint by 6.2% in the fourth quarter. Lisanti Capital Growth LLC now owns 128,550 shares of the company’s stock valued at $2,122,000 after purchasing an additional 7,550 shares during the last quarter. Raymond James Financial Inc. purchased a new position in AvePoint during the fourth quarter worth approximately $18,067,000. Finally, Aigen Investment Management LP boosted its stake in AvePoint by 116.9% during the fourth quarter. Aigen Investment Management LP now owns 39,178 shares of the company’s stock worth $647,000 after buying an additional 21,115 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.