JPMorgan Chase & Co. Buys 184,361 Shares of AvePoint, Inc. (NASDAQ:AVPT)

JPMorgan Chase & Co. lifted its stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 13.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,536,660 shares of the company's stock after purchasing an additional 184,361 shares during the period. JPMorgan Chase & Co. owned 0.82% of AvePoint worth $18,086,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. National Bank of Canada FI bought a new position in shares of AvePoint in the third quarter worth about $29,000. Canada Pension Plan Investment Board bought a new stake in AvePoint during the 2nd quarter worth approximately $83,000. Algert Global LLC purchased a new position in AvePoint during the second quarter valued at approximately $116,000. Balboa Wealth Partners bought a new position in shares of AvePoint in the third quarter worth approximately $125,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of AvePoint in the third quarter worth $171,000. 44.49% of the stock is owned by institutional investors.

AvePoint Stock Performance

AVPT traded down $0.42 during trading on Friday, reaching $16.20. 722,980 shares of the company traded hands, compared to its average volume of 1,060,013. AvePoint, Inc. has a 12-month low of $7.08 and a 12-month high of $19.16. The firm has a fifty day simple moving average of $17.01 and a 200 day simple moving average of $13.23. The company has a market cap of $3.02 billion, a P/E ratio of -323.94 and a beta of 1.01.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.20.

Insider Activity at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $12.24, for a total value of $122,400.00. Following the completion of the transaction, the insider now directly owns 18,350,673 shares of the company's stock, valued at approximately $224,612,237.52. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Caci sold 20,215 shares of the company's 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 sale, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,215 shares of company stock valued at $1,321,081. Corporate insiders own 27.78% of the company's stock.

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.