AvePoint (NASDAQ:AVPT) Sets New 52-Week High – Should You Buy?

AvePoint, Inc. (NASDAQ:AVPT) reached a new 52-week high on Thursday . The stock traded as high as $19.45 and last traded at $19.42, with a volume of 1102404 shares changing hands. The stock had previously closed at $19.12.

Wall Street Analyst Weigh In

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

AvePoint Trading Up 1.6 %

The company has a 50-day simple moving average of $17.75 and a 200 day simple moving average of $14.21. The company has a market cap of $3.63 billion, a P/E ratio of -388.32 and a beta of 1.02.

Insider Transactions at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the company’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 in the company, valued at approximately $312,793,921.76. This represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction 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 directly owns 591,890 shares in the company, valued at $10,133,156.80. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,215 shares of company stock worth $831,581. Insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in AvePoint during the 3rd quarter valued at about $48,226,000. Walleye Capital LLC purchased a new position in AvePoint during the third quarter valued at approximately $2,970,000. JPMorgan Chase & Co. raised its stake in AvePoint by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after buying an additional 184,361 shares in the last quarter. Millennium Management LLC lifted its holdings in AvePoint by 33.7% during the second quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after buying an additional 161,759 shares during the period. Finally, Barclays PLC boosted its position in AvePoint by 358.5% during the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after acquiring an additional 161,354 shares in the last quarter. 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.