Northland Securities Increases AvePoint (NASDAQ:AVPT) Price Target to $19.00

AvePoint (NASDAQ:AVPT) had its price target raised by stock analysts at Northland Securities from $18.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ target price points to a potential upside of 88.87% from the stock’s previous close.

Separately, Cantor Fitzgerald boosted their target price on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday.

AvePoint Stock Down 1.1 %

NASDAQ:AVPT traded down $0.11 during trading hours on Friday, reaching $10.06. 1,495,414 shares of the company’s stock were exchanged, compared to its average volume of 994,885. AvePoint has a 1-year low of $5.86 and a 1-year high of $11.07. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -125.75 and a beta of 0.89. The company has a 50-day moving average of $10.08 and a 200 day moving average of $8.77.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. AvePoint’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. Research analysts forecast that AvePoint will post -0.05 EPS for the current fiscal year.

Insider Transactions at AvePoint

In related news, CFO James Caci sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $9.04, for a total value of $361,600.00. Following the completion of the sale, the chief financial officer now owns 665,097 shares in the company, valued at $6,012,476.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $10.37, for a total value of $207,400.00. Following the completion of the transaction, the insider now owns 1,297,373 shares in the company, valued at approximately $13,453,758.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Caci sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $9.04, for a total transaction of $361,600.00. Following the completion of the sale, the chief financial officer now owns 665,097 shares of the company’s stock, valued at approximately $6,012,476.88. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $965,600 over the last ninety days. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its stake in shares of AvePoint by 3.9% during the 4th quarter. Strs Ohio now owns 88,400 shares of the company’s stock worth $725,000 after acquiring an additional 3,300 shares in the last quarter. ProShare Advisors LLC increased its stake in AvePoint by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock valued at $268,000 after purchasing an additional 3,749 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AvePoint by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock worth $236,000 after purchasing an additional 4,005 shares during the last quarter. Arizona State Retirement System boosted its position in AvePoint by 16.1% during the fourth quarter. Arizona State Retirement System now owns 31,097 shares of the company’s stock worth $255,000 after purchasing an additional 4,303 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in AvePoint by 44.2% in the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after purchasing an additional 5,125 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.