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

Shares of AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during trading on Monday . The company traded as high as $18.76 and last traded at $18.76, with a volume of 3070 shares traded. The stock had previously closed at $18.57.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Northland Securities boosted their price target 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. Finally, Cantor Fitzgerald raised their price objective on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

AvePoint Stock Performance

The firm’s 50 day moving average is $13.04 and its two-hundred day moving average is $11.18.

Insider Transactions at AvePoint

In related news, CFO James Caci sold 20,215 shares of the business’s 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 sale, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.91, for a total value of $119,100.00. Following the completion of the sale, the insider now directly owns 18,430,673 shares in the company, valued at $219,509,315.43. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,215 shares of company stock valued at $1,795,881 over the last three months. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVPT. Vanguard Group Inc. boosted its position in AvePoint by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after acquiring an additional 532,371 shares during the last quarter. Wellington Management Group LLP acquired a new stake in AvePoint in the 3rd quarter valued at $48,226,000. Geode Capital Management LLC lifted its position in AvePoint by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after buying an additional 133,156 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after buying an additional 227,324 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of AvePoint during the 2nd quarter worth about $17,305,000. 44.49% of the stock is owned by institutional investors and hedge funds.

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.