AvePoint (NASDAQ:AVPT) Sees Unusually-High Trading Volume

AvePoint, Inc. (NASDAQ:AVPT) shares saw unusually-strong trading volume on Wednesday . Approximately 3,330,866 shares traded hands during trading, an increase of 224% from the previous session’s volume of 1,027,543 shares.The stock last traded at $11.78 and had previously closed at $11.58.

Analysts Set New Price Targets

Several brokerages have weighed in on AVPT. Northland Securities lifted their target price on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald upped their price objective on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th.

AvePoint Trading Down 1.5 %

The company’s 50 day moving average price is $10.67 and its 200-day moving average price is $9.19. The company has a market capitalization of $2.13 billion, a PE ratio of -145.63 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last issued its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The company had revenue of $77.96 million during the quarter, compared to analyst estimates of $75.17 million. During the same period in the prior year, the business earned ($0.07) earnings per share. AvePoint’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, analysts predict that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Insider Buying and Selling at AvePoint

In other news, CFO James Caci sold 30,000 shares of AvePoint stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the sale, the chief financial officer now owns 630,084 shares of the company’s stock, valued at $6,874,216.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $10.80, for a total value of $108,000.00. Following the completion of the sale, the insider now directly owns 18,410,673 shares of the company’s stock, valued at approximately $198,835,268.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the transaction, the chief financial officer now owns 630,084 shares of the company’s stock, valued at $6,874,216.44. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $1,183,200 in the last ninety days. Company insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On AvePoint

A number of institutional investors have recently added to or reduced their stakes in AVPT. New York State Common Retirement Fund grew its stake in shares of AvePoint by 11.8% in the 4th quarter. New York State Common Retirement Fund now owns 59,744 shares of the company’s stock worth $490,000 after purchasing an additional 6,308 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of AvePoint in the 4th quarter worth $3,590,000. Swiss National Bank grew its holdings in shares of AvePoint by 5.9% during the fourth quarter. Swiss National Bank now owns 219,200 shares of the company’s stock valued at $1,800,000 after buying an additional 12,300 shares in the last quarter. Moran Wealth Management LLC bought a new position in AvePoint in the 4th quarter worth $213,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in AvePoint in the 4th quarter worth $158,000. 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.