AvePoint (NASDAQ:AVPT) Trading Up 4%

AvePoint, Inc. (NASDAQ:AVPT) shares traded up 4% during mid-day trading on Friday . The stock traded as high as $8.37 and last traded at $8.35. 316,686 shares were traded during trading, a decline of 62% from the average session volume of 842,206 shares. The stock had previously closed at $8.03.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVPT shares. Citigroup boosted their target price on shares of AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Evercore ISI boosted their target price on shares of AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald boosted their target price on shares of AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st.

AvePoint Trading Up 4.6 %

The firm’s 50 day moving average price is $7.86 and its two-hundred day moving average price is $7.79. The company has a market capitalization of $1.55 billion, a P/E ratio of -69.99 and a beta of 0.85.

AvePoint (NASDAQ:AVPT) last posted its earnings results on Thursday, February 29th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The firm had revenue of $74.60 million for the quarter, compared to analyst estimates of $71.57 million. During the same period in the prior year, the business posted ($0.07) EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Analysts anticipate that AvePoint, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $8.11, for a total value of $162,200.00. Following the transaction, the insider now directly owns 1,286,088 shares of the company’s stock, valued at $10,430,173.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 43,061 shares of company stock worth $342,288. Insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of AvePoint by 227.8% during the 1st quarter. Vanguard Group Inc. now owns 10,390,928 shares of the company’s stock worth $54,656,000 after acquiring an additional 7,220,811 shares during the period. BlackRock Inc. boosted its stake in AvePoint by 32.6% in the 2nd quarter. BlackRock Inc. now owns 10,382,686 shares of the company’s stock worth $59,804,000 after purchasing an additional 2,553,858 shares during the period. State Street Corp boosted its stake in AvePoint by 243.5% in the 2nd quarter. State Street Corp now owns 2,143,383 shares of the company’s stock worth $9,302,000 after purchasing an additional 1,519,449 shares during the period. JPMorgan Chase & Co. boosted its stake in AvePoint by 949.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,550,288 shares of the company’s stock worth $8,930,000 after purchasing an additional 1,402,604 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in AvePoint by 274.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company’s stock worth $12,334,000 after purchasing an additional 1,345,267 shares during the period. 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.