Intech Investment Management LLC Makes New $348,000 Investment in AvePoint, Inc. (NASDAQ:AVPT)

Intech Investment Management LLC purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,550 shares of the company's stock, valued at approximately $348,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVPT. Moran Wealth Management LLC increased its holdings in shares of AvePoint by 35.2% in the third quarter. Moran Wealth Management LLC now owns 48,488 shares of the company's stock valued at $571,000 after purchasing an additional 12,618 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of AvePoint by 2.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,012 shares of the company's stock valued at $3,861,000 after purchasing an additional 8,620 shares during the last quarter. Quest Partners LLC increased its holdings in shares of AvePoint by 74.4% in the third quarter. Quest Partners LLC now owns 72,586 shares of the company's stock valued at $854,000 after purchasing an additional 30,968 shares during the last quarter. Balboa Wealth Partners acquired a new position in shares of AvePoint in the third quarter valued at $125,000. Finally, GSA Capital Partners LLP acquired a new position in shares of AvePoint in the third quarter valued at $394,000. 44.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Northland Securities upped their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. The Goldman Sachs Group upped their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald upped their price objective on shares of AvePoint from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, AvePoint currently has an average rating of "Moderate Buy" and an average target price of $13.20.

Insider Activity at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the transaction, the insider now owns 18,410,673 shares in the company, valued at approximately $215,957,194.29. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 20,215 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 $346,080.80. Following the completion of the sale, the chief financial officer now directly owns 591,890 shares of the company's stock, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,215 shares of company stock valued at $1,795,881. 27.78% of the stock is owned by company insiders.

AvePoint Stock Performance

Shares of AVPT stock traded up $0.53 during trading hours on Wednesday, hitting $18.75. 2,602,405 shares of the company were exchanged, compared to its average volume of 1,025,766. The company has a 50 day simple moving average of $13.90 and a two-hundred day simple moving average of $11.65. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $18.84. The firm has a market cap of $3.50 billion, a P/E ratio of -373.93 and a beta of 1.00.

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.