AvePoint (NASDAQ:AVPT) Trading Up 6.4% – What’s Next?

AvePoint, Inc. (NASDAQ:AVPT) shares rose 6.4% on Monday . The stock traded as high as $13.35 and last traded at $13.4650. 468,921 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,032,396 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

AVPT has been the topic of several analyst reports. Zacks Research cut AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen upgraded AvePoint from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen increased their target price on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. DA Davidson reissued a “buy” rating and issued a $18.00 price target on shares of AvePoint in a research note on Monday, July 6th. Finally, Scotiabank lifted their price target on AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.44.

AvePoint Stock Performance

The company has a market cap of $2.88 billion, a price-to-earnings ratio of 42.50 and a beta of 1.19. The stock’s fifty day simple moving average is $13.12 and its two-hundred day simple moving average is $11.35.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $124.50 million during the quarter, compared to the consensus estimate of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. Analysts predict that AvePoint, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at AvePoint

In other 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 value of $852,000.00. Following the transaction, the insider directly owned 384,604 shares of the company’s stock, valued at $5,461,376.80. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 80,000 shares of company stock valued at $1,115,696. Insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of 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 period. EverSource Wealth Advisors LLC raised its stake in AvePoint by 17.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,611 shares of the company’s stock worth $147,000 after acquiring an additional 1,551 shares during the period. Versant Capital Management Inc raised its stake in AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock worth $90,000 after acquiring an additional 1,701 shares during the period. Allworth Financial LP lifted its holdings in AvePoint by 109.6% in the second quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock worth $57,000 after acquiring an additional 2,649 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in AvePoint by 933.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after acquiring an additional 2,689 shares during the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

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.