272 Capital LP Invests $1.43 Million in AvePoint, Inc. (NASDAQ:AVPT)

272 Capital LP acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 121,187 shares of the company's stock, valued at approximately $1,426,000. 272 Capital LP owned about 0.06% of AvePoint at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new stake in AvePoint during the 3rd quarter worth $29,000. Canada Pension Plan Investment Board bought a new stake in shares of AvePoint during the second quarter worth about $83,000. Algert Global LLC acquired a new position in shares of AvePoint in the second quarter valued at approximately $116,000. Balboa Wealth Partners bought a new position in AvePoint in the 3rd quarter valued at approximately $125,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in AvePoint during the 3rd quarter worth approximately $171,000. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Stock Down 1.1 %

Shares of NASDAQ AVPT traded down $0.21 during midday trading on Friday, reaching $18.37. The stock had a trading volume of 1,069,980 shares, compared to its average volume of 1,038,972. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $19.16. The company's 50 day moving average price is $14.87 and its 200 day moving average price is $12.07.

Insider Transactions at AvePoint

In related news, CFO James Caci sold 20,215 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares of the company's stock, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total value of $117,300.00. Following the completion of the sale, the insider now directly owns 18,410,673 shares of the company's stock, valued at $215,957,194.29. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,215 shares of company stock valued at $1,795,881. Corporate insiders own 27.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on shares of AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.20.

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.