Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Rises By 12.5%

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 7,840,000 shares, an increase of 12.5% from the November 30th total of 6,970,000 shares. Approximately 7.8% of the company's shares are short sold. Based on an average trading volume of 1,070,000 shares, the days-to-cover ratio is currently 7.3 days.

AvePoint Stock Performance

NASDAQ:AVPT traded up $0.03 during trading hours on Tuesday, hitting $16.51. The stock had a trading volume of 2,172,030 shares, compared to its average volume of 1,053,641. The business's 50 day moving average is $16.20 and its 200-day moving average is $12.84. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -330.13 and a beta of 1.00. AvePoint has a one year low of $7.08 and a one year high of $19.16.

Insider Transactions at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction on Wednesday, November 20th. The shares were 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 of the company's stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $171,200.00. Following the completion of the transaction, the insider now directly owns 18,270,673 shares in the company, valued at approximately $312,793,921.76. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,215 shares of company stock worth $1,321,081 over the last 90 days. 27.78% of the stock is owned by insiders.

Institutional Trading of AvePoint

A number of large investors have recently made changes to their positions in AVPT. US Bancorp DE grew its stake in AvePoint by 8.0% in the third quarter. US Bancorp DE now owns 18,706 shares of the company's stock valued at $220,000 after acquiring an additional 1,391 shares during the period. National Bank of Canada FI bought a new position in shares of AvePoint during the 3rd quarter valued at about $29,000. Cerity Partners LLC grew its position in shares of AvePoint by 6.6% in the 3rd quarter. Cerity Partners LLC now owns 41,499 shares of the company's stock valued at $488,000 after purchasing an additional 2,571 shares during the period. Creative Planning increased its stake in AvePoint by 19.1% during the 3rd quarter. Creative Planning now owns 29,345 shares of the company's stock worth $345,000 after purchasing an additional 4,698 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in AvePoint by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock worth $824,000 after purchasing an additional 5,352 shares in the last quarter. Institutional investors own 44.49% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price objective 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 issued a buy rating to the stock. According to MarketBeat, AvePoint currently has an average rating of "Moderate Buy" and a consensus price target 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.