Point72 Asset Management L.P. Sells 27,700 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Point72 Asset Management L.P. trimmed its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 45.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,900 shares of the company's stock after selling 27,700 shares during the period. Point72 Asset Management L.P.'s holdings in AvePoint were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of AvePoint in the second quarter worth approximately $83,000. Algert Global LLC purchased a new stake in shares of AvePoint during the 2nd quarter valued at $116,000. Balboa Wealth Partners bought a new stake in shares of AvePoint during the 3rd quarter worth $125,000. nVerses Capital LLC purchased a new position in AvePoint in the second quarter worth $173,000. Finally, US Bancorp DE increased 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 last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AvePoint

In other news, CFO James Caci sold 20,215 shares of the company's stock in a transaction dated 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 directly owns 591,890 shares of the company's stock, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total value of $117,300.00. Following the completion of the sale, the insider now directly owns 18,410,673 shares in the company, valued at $215,957,194.29. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,215 shares of company stock worth $1,795,881. Company insiders own 27.78% of the company's stock.

AvePoint Stock Performance

NASDAQ:AVPT traded down $0.21 during trading hours on Friday, reaching $18.37. The company's stock had a trading volume of 1,069,980 shares, compared to its average volume of 1,038,972. The firm has a 50-day simple moving average of $15.00 and a 200-day simple moving average of $12.14. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $19.16. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -367.23 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their price target on AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Two 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.com, AvePoint has an average rating of "Moderate Buy" and an average 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.