D.A. Davidson & CO. Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

D.A. Davidson & CO. purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,341 shares of the company's stock, valued at approximately $899,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE increased its holdings in AvePoint by 8.0% in the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company's stock worth $220,000 after acquiring an additional 1,391 shares during the last quarter. Cerity Partners LLC raised its holdings 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 acquiring an additional 2,571 shares in the last quarter. Creative Planning boosted its position in shares of AvePoint by 19.1% during the 3rd quarter. Creative Planning now owns 29,345 shares of the company's stock valued at $345,000 after acquiring an additional 4,698 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AvePoint by 14.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company's stock worth $337,000 after purchasing an additional 5,316 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in AvePoint by 8.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock valued at $824,000 after purchasing an additional 5,352 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO James Caci sold 20,215 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value 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 $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Zhijian Lu sold 10,000 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 $171,200.00. Following the completion of the sale, the insider now 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 have sold a total of 130,215 shares of company stock valued at $1,795,881 in the last quarter. Insiders own 27.78% of the company's stock.

AvePoint Stock Performance

AVPT stock traded up $0.16 during trading on Monday, hitting $17.81. 703,666 shares of the company traded hands, compared to its average volume of 1,015,196. The company has a 50-day moving average of $13.64 and a 200-day moving average of $11.52. The firm has a market capitalization of $3.33 billion, a PE ratio of -352.80 and a beta of 0.88. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $18.75.

Analyst Upgrades and Downgrades

AVPT has been the topic of several research reports. The Goldman Sachs Group raised their price objective 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. Northland Securities lifted their price target on AvePoint from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald raised their price objective on AvePoint from $11.00 to $13.00 and gave the company an "overweight" rating in a 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.20.

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.