AvePoint (NASDAQ:AVPT) Sets New 52-Week High at $8.86

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $8.86 and last traded at $8.83, with a volume of 425234 shares changing hands. The stock had previously closed at $8.71.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVPT shares. Evercore ISI lifted their price target on shares of AvePoint from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Cantor Fitzgerald boosted their target price on AvePoint from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, March 1st.

AvePoint Stock Performance

The stock has a market capitalization of $1.65 billion, a PE ratio of -111.88 and a beta of 0.84. The firm's 50 day moving average is $7.98 and its two-hundred day moving average is $8.00.

AvePoint (NASDAQ:AVPT - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $74.53 million during the quarter, compared to the consensus estimate of $72.33 million. AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The company's quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, analysts anticipate that AvePoint, Inc. will post -0.15 EPS for the current year.

Insider Activity

In related news, insider Brian Michael Brown sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $7.86, for a total value of $157,200.00. Following the sale, the insider now owns 1,351,240 shares of the company's stock, valued at $10,620,746.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 43,061 shares of company stock worth $343,888. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in AvePoint by 274.5% in the third quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company's stock valued at $12,334,000 after acquiring an additional 1,345,267 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of AvePoint in the 3rd quarter valued at about $402,000. Herald Investment Management Ltd boosted its position in shares of AvePoint by 20.4% in the 3rd quarter. Herald Investment Management Ltd now owns 425,000 shares of the company's stock valued at $2,848,000 after purchasing an additional 71,993 shares during the period. Jump Financial LLC purchased a new position in AvePoint during the 3rd quarter worth approximately $645,000. Finally, Calamos Advisors LLC acquired a new position in AvePoint during the fourth quarter worth approximately $1,260,000. 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.