Millrace Asset Group Inc. Sells 28,689 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Millrace Asset Group Inc. trimmed its stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 12.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,142 shares of the company's stock after selling 28,689 shares during the period. AvePoint comprises about 2.4% of Millrace Asset Group Inc.'s holdings, making the stock its 6th biggest position. Millrace Asset Group Inc. owned about 0.11% of AvePoint worth $2,403,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AVPT. FMR LLC increased its stake in AvePoint by 1,253.0% in the 3rd quarter. FMR LLC now owns 38,275 shares of the company's stock valued at $450,000 after purchasing an additional 35,446 shares in the last quarter. Quantbot Technologies LP increased its position in shares of AvePoint by 142.8% in the third quarter. Quantbot Technologies LP now owns 153,747 shares of the company's stock valued at $1,810,000 after buying an additional 90,413 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of AvePoint during the 3rd quarter worth $899,000. The Manufacturers Life Insurance Company boosted its position in shares of AvePoint by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock worth $824,000 after buying an additional 5,352 shares in the last quarter. Finally, Algert Global LLC grew its stake in AvePoint by 1,041.8% in the 3rd quarter. Algert Global LLC now owns 126,817 shares of the company's stock valued at $1,493,000 after acquiring an additional 115,710 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company's stock.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the completion of the sale, the insider now owns 18,270,673 shares in the company, valued at $312,793,921.76. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James Caci sold 20,215 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders sold 130,215 shares of company stock valued at $1,795,881. Company insiders own 27.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVPT. 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 report on Tuesday, November 12th. Northland Securities upped their target price on AvePoint from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald raised their price target on AvePoint from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $13.20.

AvePoint Stock Down 0.5 %

Shares of NASDAQ:AVPT traded down $0.10 during trading on Tuesday, reaching $18.12. The stock had a trading volume of 1,871,265 shares, compared to its average volume of 1,016,360. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $18.75. The business has a fifty day moving average price of $13.16 and a 200-day moving average price of $11.25. The stock has a market cap of $3.38 billion, a P/E ratio of -362.33 and a beta of 0.88.

AvePoint Company 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.