AvePoint (NASDAQ:AVPT) Sees Strong Trading Volume

AvePoint, Inc. (NASDAQ:AVPTGet Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,898,403 shares were traded during trading, an increase of 115% from the previous session’s volume of 883,135 shares.The stock last traded at $9.19 and had previously closed at $9.10.

Analyst Ratings Changes

AVPT has been the topic of several recent analyst reports. Cantor Fitzgerald raised their price target on shares of AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Evercore ISI raised their target price on shares of AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, March 1st.

Get Our Latest Stock Analysis on AvePoint

AvePoint Stock Down 4.1 %

The firm has a 50-day moving average of $8.49 and a two-hundred day moving average of $8.16. The company has a market capitalization of $1.67 billion, a PE ratio of -112.88 and a beta of 0.87.

AvePoint (NASDAQ:AVPTGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. The firm had revenue of $74.53 million during the quarter, compared to the consensus estimate of $72.33 million. During the same period last year, the company earned ($0.05) EPS. The company’s quarterly revenue was up 25.1% on a year-over-year basis. On average, equities research analysts expect that AvePoint, Inc. will post -0.05 EPS for the current year.

Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the transaction, the insider now directly owns 1,323,930 shares in the company, valued at approximately $11,981,566.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AvePoint news, CFO James Caci sold 40,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $9.04, for a total transaction of $361,600.00. Following the sale, the chief financial officer now owns 665,097 shares in the company, valued at approximately $6,012,476.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $9.05, for a total value of $181,000.00. Following the completion of the transaction, the insider now owns 1,323,930 shares of the company’s stock, valued at approximately $11,981,566.50. The disclosure for this sale can be found here. Insiders sold a total of 83,061 shares of company stock worth $724,288 over the last ninety days. Company insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVPT. Harvest Fund Management Co. Ltd purchased a new position in shares of AvePoint during the fourth quarter worth about $47,000. Aigen Investment Management LP purchased a new position in AvePoint during the 3rd quarter worth approximately $68,000. SG Americas Securities LLC acquired a new position in AvePoint during the fourth quarter worth approximately $95,000. Bayesian Capital Management LP acquired a new position in shares of AvePoint in the 1st quarter valued at $130,000. Finally, Quadrature Capital Ltd purchased a new stake in AvePoint in the 4th quarter valued at $148,000. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

(Get Free Report)

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.

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