AvePoint (NASDAQ:AVPT) Sets New 52-Week High – Time to Buy?

Shares of AvePoint, Inc. (NASDAQ:AVPT) reached a new 52-week high during trading on Tuesday. The stock traded as high as $15.45 and last traded at $15.4350, with a volume of 914,365 shares trading hands. The stock had previously closed at $14.74.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Zacks Research downgraded shares of AvePoint from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. BMO Capital Markets began coverage on shares of AvePoint in a research report on Tuesday, October 6th. They set an “outperform” rating and a $17.00 target price for the company. Evercore reaffirmed an “outperform” rating and issued a $16.00 price target on shares of AvePoint in a report on Friday, August 7th. Finally, Phillip Securities raised shares of AvePoint to a “moderate buy” rating in a report on Monday, October 5th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

AvePoint Stock Up 3.2%

The firm has a 50-day moving average of $13.75 and a two-hundred day moving average of $12.03. The company has a market capitalization of $3.33 billion, a PE ratio of 49.13 and a beta of 1.17.

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

Insider Activity

In related news, insider Brian Brown sold 72,606 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total value of $1,107,967.56. Following the completion of the transaction, the insider directly owned 259,604 shares in the company, valued at $3,961,557.04. The trade was a 21.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 205,000 shares of company stock valued at $2,986,408. Insiders own 22.66% of the company’s stock.

Institutional Trading of AvePoint

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in AvePoint by 106.7% in the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after buying an additional 1,433,299 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AvePoint by 25.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after acquiring an additional 666,422 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of AvePoint by 25.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,675,587 shares of the company’s stock worth $25,445,000 after acquiring an additional 535,015 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of AvePoint by 16.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock valued at $24,537,000 after acquiring an additional 363,200 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of AvePoint by 335.2% during the 1st quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after acquiring an additional 1,842,124 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

About AvePoint

AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.