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

AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.62 and last traded at $16.59, with a volume of 1132070 shares changing hands. The stock had previously closed at $15.74.

Analysts Set New Price Targets

AVPT has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their price objective on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. The Goldman Sachs Group boosted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Northland Securities boosted their price objective on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, AvePoint has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Stock Up 5.3 %

The stock’s 50 day simple moving average is $12.56 and its two-hundred day simple moving average is $10.91.

Insider Buying and Selling at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total value of $108,900.00. Following the sale, the insider now owns 18,440,673 shares of the company’s stock, valued at $200,818,928.97. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 130,000 shares of company stock valued at $1,603,800. 27.78% of the stock is currently owned by corporate insiders.

Institutional Trading of AvePoint

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of AvePoint by 3.7% in the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after purchasing an additional 532,371 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of AvePoint in the third quarter worth $48,226,000. Geode Capital Management LLC lifted its position in shares of AvePoint by 4.9% in the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after purchasing an additional 133,156 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AvePoint by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of AvePoint in the second quarter worth $17,305,000. Institutional investors own 44.49% of the company’s stock.

About AvePoint

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.