Shares of AvePoint, Inc. (NASDAQ:AVPT – Get Free Report) were up 6.4% during trading on Monday . The company traded as high as $13.35 and last traded at $13.4650. Approximately 468,921 shares were traded during mid-day trading, a decline of 77% from the average session volume of 2,032,396 shares. The stock had previously closed at $12.66.
Analysts Set New Price Targets
A number of research firms recently weighed in on AVPT. Wall Street Zen raised shares of AvePoint from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen boosted their price target on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Zacks Research downgraded shares of AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Citigroup restated a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Finally, Evercore reaffirmed an “outperform” rating and issued a $16.00 target price on shares of AvePoint in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.44.
Check Out Our Latest Research Report on AVPT
AvePoint Price Performance
AvePoint (NASDAQ:AVPT – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. The firm had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. Analysts anticipate that AvePoint, Inc. will post 0.25 EPS for the current fiscal year.
Insider Activity
In related news, insider Brian Brown sold 60,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the completion of the sale, the insider directly owned 384,604 shares in the company, valued at approximately $5,461,376.80. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 80,000 shares of company stock valued at $1,115,696. 22.66% of the stock is currently owned by corporate insiders.
Institutional Trading of AvePoint
Several institutional investors and hedge funds have recently bought and sold shares of AVPT. Scholtz & Company LLC bought a new position in shares of AvePoint during the 2nd quarter worth approximately $1,975,000. Integrated Wealth Concepts LLC bought a new stake in AvePoint in the 2nd quarter valued at $96,000. Allworth Financial LP lifted its holdings in AvePoint by 109.6% during the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock valued at $57,000 after purchasing an additional 2,649 shares during the last quarter. Corient Private Wealth LP acquired a new stake in AvePoint during the 2nd quarter valued at $240,000. Finally, California State Teachers Retirement System boosted its position in AvePoint by 994.0% during the second quarter. California State Teachers Retirement System now owns 2,032,037 shares of the company’s stock worth $22,779,000 after purchasing an additional 1,846,288 shares during the period. Institutional investors own 44.49% of the company’s stock.
About AvePoint
AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.
The company’s product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.
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