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

Shares of AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high on Monday. The company traded as high as $16.81 and last traded at $16.8120, with a volume of 144,495 shares changing hands. The stock had previously closed at $16.51.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVPT. Cantor Fitzgerald reissued an “overweight” rating on shares of AvePoint in a research note on Tuesday, September 22nd. TD Cowen lifted their price objective on AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Stephens lifted their target price on AvePoint from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Finally, Jefferies Financial Group lifted their price objective on shares of AvePoint from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Sunday. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.55.

AvePoint Stock Performance

The company has a market capitalization of $3.48 billion, a PE ratio of 51.44 and a beta of 1.17. The company has a 50 day moving average price of $13.99 and a 200 day moving average price of $11.86.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. On average, equities analysts forecast that AvePoint, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Brown sold 35,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $16.42, for a total value of $574,700.00. Following the transaction, the insider owned 224,604 shares in the company, valued at approximately $3,687,997.68. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 230,000 shares of company stock valued at $3,430,412. Company insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in 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 purchasing an additional 802 shares during the period. Smith Group Asset Management LLC increased its stake in shares of AvePoint by 1.6% during the 3rd quarter. Smith Group Asset Management LLC now owns 63,622 shares of the company’s stock worth $896,000 after purchasing an additional 984 shares during the last quarter. Signaturefd LLC raised its holdings in shares of AvePoint by 21.2% in the 3rd quarter. Signaturefd LLC now owns 5,739 shares of the company’s stock worth $81,000 after purchasing an additional 1,005 shares during the period. Versant Capital Management Inc grew its holdings in AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock valued at $90,000 after purchasing an additional 1,701 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in AvePoint by 42.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,983 shares of the company’s stock worth $84,000 after buying an additional 1,782 shares during the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Company Profile

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.