AvePoint (NASDAQ:AVPT) Reaches New 1-Year High – Still a Buy?

Shares of AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.62 and last traded at $16.59, with a volume of 1132070 shares trading hands. The stock had previously closed at $15.74.

Wall Street Analyst Weigh In

AVPT has been the subject of several analyst reports. Cantor Fitzgerald lifted their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Northland Securities lifted their price target on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group lifted their price target on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, AvePoint has a consensus rating of “Moderate Buy” and an average price target of $13.20.

AvePoint Price Performance

The firm’s 50-day simple moving average is $12.56 and its two-hundred day simple moving average is $10.91.

Insider Buying and Selling at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $10.83, for a total transaction of $108,300.00. Following the completion of the sale, the insider now owns 18,420,673 shares in the company, valued at $199,495,888.59. The trade was a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 130,000 shares of company stock worth $1,603,800. 27.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of AvePoint by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after buying an additional 532,371 shares during the period. Wellington Management Group LLP acquired a new stake in shares of AvePoint during the 3rd quarter worth approximately $48,226,000. Geode Capital Management LLC grew its position in shares of AvePoint by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after buying an additional 133,156 shares during the period. Dimensional Fund Advisors LP grew its position in shares of AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after buying an additional 227,324 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in AvePoint during the second quarter valued at approximately $17,305,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.