Geode Capital Management LLC Has $33.31 Million Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

Geode Capital Management LLC increased its stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,829,548 shares of the company's stock after buying an additional 133,156 shares during the quarter. Geode Capital Management LLC owned 1.52% of AvePoint worth $33,309,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AVPT. Millennium Management LLC increased its position in shares of AvePoint by 33.7% during the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company's stock worth $6,688,000 after purchasing an additional 161,759 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of AvePoint during the third quarter worth approximately $1,404,000. Susquehanna Fundamental Investments LLC bought a new position in shares of AvePoint in the second quarter valued at approximately $548,000. Quantbot Technologies LP raised its stake 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 acquiring an additional 90,413 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of AvePoint in the 3rd quarter worth approximately $1,424,000. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Trading Down 2.1 %

Shares of AVPT traded down $0.37 during mid-day trading on Thursday, hitting $17.43. 617,930 shares of the company traded hands, compared to its average volume of 1,041,370. The business has a 50-day moving average of $16.02 and a 200 day moving average of $12.69. AvePoint, Inc. has a one year low of $7.08 and a one year high of $19.16. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -348.53 and a beta of 1.00.

Insider Activity

In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred 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 $312,793,921.76. The trade was a 0.05 % decrease in their position. The sale 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 stock in a transaction that occurred 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 transaction, the chief financial officer now owns 591,890 shares in the company, valued at $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,215 shares of company stock valued at $1,321,081. Company insiders own 27.78% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price objective on AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.