AvePoint (NASDAQ:AVPT) Reaches New 52-Week High – Should You Buy?

AvePoint, Inc. (NASDAQ:AVPT)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $18.84 and last traded at $18.70, with a volume of 699950 shares traded. The stock had previously closed at $18.22.

Analysts Set New Price Targets

A number of research firms have issued reports on AVPT. Northland Securities lifted their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. The Goldman Sachs Group upped their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald raised their target price on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report 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. According to MarketBeat.com, AvePoint currently has an average rating of “Moderate Buy” and an average price target of $13.20.

AvePoint Trading Down 0.5 %

The stock has a market cap of $3.48 billion, a P/E ratio of -373.00 and a beta of 1.00. The firm’s fifty day moving average is $14.04 and its 200 day moving average is $11.70.

Insider Transactions at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the transaction, the insider now owns 18,410,673 shares of the company’s stock, valued at approximately $215,957,194.29. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction dated 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 directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,215 shares of company stock worth $1,795,881. Company insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. 272 Capital LP bought a new stake in AvePoint in the 3rd quarter valued at $1,426,000. Franklin Resources Inc. increased its stake in AvePoint by 2.3% in the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after acquiring an additional 27,191 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in AvePoint during the third quarter worth about $1,094,000. Ashford Capital Management Inc. boosted its holdings in AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after purchasing an additional 99,505 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after purchasing an additional 133,156 shares during the period. 44.49% of the stock is currently 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.