272 Capital LP purchased a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 121,187 shares of the company's stock, valued at approximately $1,426,000. AvePoint comprises 1.6% of 272 Capital LP's portfolio, making the stock its 24th biggest position. 272 Capital LP owned 0.06% of AvePoint at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of AvePoint during the 2nd quarter worth $83,000. Algert Global LLC bought a new stake in AvePoint in the second quarter worth about $116,000. Balboa Wealth Partners purchased a new position in AvePoint in the third quarter valued at about $125,000. nVerses Capital LLC bought a new position in shares of AvePoint during the 2nd quarter valued at approximately $173,000. Finally, US Bancorp DE increased its stake in shares of AvePoint by 8.0% during the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company's stock worth $220,000 after purchasing an additional 1,391 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.
Insider Buying and Selling
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 shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total transaction of $117,300.00. Following the sale, the insider now owns 18,410,673 shares in the company, valued at approximately $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 quarter, insiders have sold 130,215 shares of company stock valued at $1,795,881. Corporate insiders own 27.78% of the company's stock.
AvePoint Price Performance
Shares of AvePoint stock traded down $0.17 during trading hours on Friday, reaching $17.65. The company had a trading volume of 666,970 shares, compared to its average volume of 1,433,891. The firm has a market cap of $3.30 billion, a PE ratio of -352.93 and a beta of 0.88. AvePoint, Inc. has a one year low of $7.08 and a one year high of $18.75. The business has a fifty day simple moving average of $13.64 and a 200 day simple moving average of $11.50.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Cantor Fitzgerald upped their price objective on AvePoint from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Northland Securities upped their price target on AvePoint from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group lifted their price objective on AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a 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, the company has an average rating of "Moderate Buy" and a consensus price target of $13.20.
Check Out Our Latest Analysis on AVPT
About AvePoint
(
Free Report)
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.
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