Ashford Capital Management Inc. Purchases 99,505 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Ashford Capital Management Inc. increased its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,091,230 shares of the company's stock after purchasing an additional 99,505 shares during the period. AvePoint accounts for about 1.6% of Ashford Capital Management Inc.'s holdings, making the stock its 26th biggest holding. Ashford Capital Management Inc. owned approximately 0.58% of AvePoint worth $12,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. National Bank of Canada FI purchased a new position in AvePoint in the 3rd quarter worth approximately $29,000. Canada Pension Plan Investment Board purchased a new stake in AvePoint during the 2nd quarter worth $83,000. Balboa Wealth Partners acquired a new position in AvePoint in the 3rd quarter worth $125,000. Algert Global LLC purchased a new position in AvePoint in the 2nd quarter valued at about $116,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of AvePoint during the third quarter valued at about $171,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

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

AvePoint Stock Performance

Shares of NASDAQ AVPT traded up $0.14 during midday trading on Tuesday, hitting $18.67. The company's stock had a trading volume of 1,459,096 shares, compared to its average volume of 1,034,538. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $19.16. The firm's fifty day moving average price is $14.45 and its 200-day moving average price is $11.91. The firm has a market cap of $3.49 billion, a P/E ratio of -373.40 and a beta of 0.99.

Insider Activity

In related news, major shareholder Zhijian Lu sold 10,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.91, for a total transaction of $119,100.00. Following the completion of the transaction, the insider now owns 18,430,673 shares of the company's stock, valued at $219,509,315.43. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Caci sold 20,215 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,215 shares of company stock valued at $1,795,881. 27.78% of the stock is currently owned by insiders.

AvePoint Profile

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.