AvePoint (NASDAQ:AVPT) Sets New 1-Year High – Still a Buy?

AvePoint, Inc. (NASDAQ:AVPT) reached a new 52-week high on Tuesday . The stock traded as high as $19.16 and last traded at $18.53, with a volume of 1426148 shares changing hands. The stock had previously closed at $18.89.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Trading Down 1.9 %

The company has a market cap of $3.46 billion, a PE ratio of -370.53 and a beta of 0.99. The company has a fifty day simple moving average of $14.45 and a two-hundred day simple moving average of $11.91.

Insider Buying and Selling

In other news, CFO James Caci sold 20,215 shares of the 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 transaction, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the sale, the insider now directly owns 18,270,673 shares in the company, valued at $312,793,921.76. This trade represents a 0.05 % decrease in their position. 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 Trading of AvePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new position in shares of AvePoint during the third quarter worth about $29,000. Canada Pension Plan Investment Board acquired a new stake in shares of AvePoint in the 2nd quarter valued at about $83,000. Algert Global LLC purchased a new position in AvePoint during the 2nd quarter worth approximately $116,000. Balboa Wealth Partners acquired a new position in AvePoint during the third quarter worth approximately $125,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in AvePoint in the third quarter valued at approximately $171,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.