AvePoint (NASDAQ:AVPT) Stock Price Up 6.4% - Here's What Happened

Key Points

• AvePoint shares rose 6.4% to about $13.47 in Monday trading, although volume was 77% below the average session level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $16.44. TD Cowen recently raised its target to $15, while DA Davidson maintains an $18 target.
• AvePoint exceeded quarterly expectations, reporting $0.12 in EPS versus the $0.08 consensus and revenue of $124.5 million versus estimates of $121.38 million. However, insiders have sold 80,000 shares worth approximately $1.12 million over the past 90 days.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s stock price traded up 6.4% during trading on Monday . The company traded as high as $13.35 and last traded at $13.4650. Approximately 468,921 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,032,396 shares. The stock had previously closed at $12.66.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVPT. Zacks Research downgraded AvePoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of AvePoint from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup reiterated a "neutral" rating on shares of AvePoint in a research note on Wednesday, August 12th. TD Cowen upped their price target on shares of AvePoint from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, DA Davidson reiterated a "buy" rating and issued a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AvePoint currently has an average rating of "Moderate Buy" and a consensus price target of $16.44.

AvePoint Price Performance

The stock's 50 day simple moving average is $13.07 and its two-hundred day simple moving average is $11.30. The company has a market capitalization of $2.89 billion, a P/E ratio of 42.70 and a beta of 1.19.

AvePoint (NASDAQ:AVPT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. AvePoint had a return on equity of 15.97% and a net margin of 15.33%.The company had revenue of $124.50 million during the quarter, compared to analysts' expectations of $121.38 million. As a group, equities research analysts expect that AvePoint, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other AvePoint news, insider Brian Brown sold 60,000 shares of AvePoint stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the transaction, the insider directly owned 384,604 shares in the company, valued at approximately $5,461,376.80. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 80,000 shares of company stock worth $1,115,696. Company insiders own 22.66% of the company's stock.

Institutional Investors Weigh In On AvePoint

Several large investors have recently made changes to their positions in AVPT. PNC Financial Services Group Inc. boosted its position in shares of AvePoint by 933.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company's stock worth $28,000 after buying an additional 2,689 shares during the period. Kestra Advisory Services LLC acquired a new stake in AvePoint in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC raised its position in AvePoint by 26.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company's stock valued at $43,000 after buying an additional 802 shares during the last quarter. Vestcor Inc bought a new stake in AvePoint in the 3rd quarter valued at approximately $45,000. Finally, Kemnay Advisory Services Inc. bought a new stake in AvePoint in the 4th quarter valued at approximately $47,000. Institutional investors own 44.49% of the company's stock.

AvePoint Company Profile

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company's product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.

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