AvePoint (NASDAQ:AVPT) Trading Up 4%

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

Analysts Set New Price Targets

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

AvePoint Price Performance

The firm’s 50 day moving average is $7.86 and its two-hundred day moving average is $7.79. The firm 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). The firm had revenue of $74.60 million for the quarter, compared to analyst estimates of $71.57 million. AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS. Analysts anticipate that AvePoint, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $7.78, for a total value of $155,600.00. Following the transaction, the insider now directly owns 1,306,088 shares of the company’s stock, valued at $10,161,364.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 43,061 shares of company stock valued at $342,288. 27.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

A number of institutional investors have recently modified their holdings of AVPT. Quantbot Technologies LP raised its position in AvePoint by 136.8% in the 1st quarter. Quantbot Technologies LP now owns 6,867 shares of the company’s stock valued at $36,000 after buying an additional 3,967 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in AvePoint by 148.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 8,937 shares of the company’s stock valued at $37,000 after purchasing an additional 5,334 shares during the period. Harvest Fund Management Co. Ltd bought a new position in AvePoint in the 4th quarter valued at $47,000. Schonfeld Strategic Advisors LLC bought a new position in AvePoint in the 1st quarter valued at $48,000. Finally, Royal Bank of Canada grew its stake in AvePoint by 97,940.0% in the 1st quarter. Royal Bank of Canada now owns 9,804 shares of the company’s stock valued at $52,000 after purchasing an additional 9,794 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

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.