AvePoint (NASDAQ:AVPT) Hits New 52-Week High – Still a Buy?

AvePoint, Inc. (NASDAQ:AVPT)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $19.78 and last traded at $19.70, with a volume of 636641 shares. The stock had previously closed at $19.35.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup lifted their target price on AvePoint from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

AvePoint Stock Up 2.3 %

The stock has a 50-day moving average of $17.88 and a 200 day moving average of $14.51. The company has a market capitalization of $3.70 billion, a PE ratio of -395.92 and a beta of 1.02.

Insider Buying and Selling at AvePoint

In related news, CFO James Caci sold 20,215 shares of the company’s stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the completion of the sale, the insider now directly owns 18,270,673 shares of the company’s stock, valued at $312,793,921.76. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,215 shares of company stock worth $673,881 in the last quarter. 27.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently added to or reduced their stakes in AVPT. Pacer Advisors Inc. raised its position in shares of AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock valued at $73,000 after purchasing an additional 1,010 shares during the period. Ameritas Investment Partners Inc. grew its stake in AvePoint by 8.4% in the 4th quarter. Ameritas Investment Partners Inc. now owns 13,475 shares of the company’s stock valued at $222,000 after buying an additional 1,042 shares in the last quarter. Moran Wealth Management LLC raised its holdings in AvePoint by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock valued at $818,000 after acquiring an additional 1,083 shares during the period. US Bancorp DE raised its holdings in AvePoint by 8.0% during the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after acquiring an additional 1,391 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of AvePoint during the fourth quarter worth $25,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.