Scalar Gauge Management LLC Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

Scalar Gauge Management LLC bought a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 604,776 shares of the company's stock, valued at approximately $9,985,000. AvePoint accounts for approximately 4.6% of Scalar Gauge Management LLC's portfolio, making the stock its 9th biggest holding. Scalar Gauge Management LLC owned 0.32% of AvePoint as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AVPT. Global Retirement Partners LLC acquired a new position in AvePoint during the fourth quarter worth about $25,000. Heck Capital Advisors LLC acquired a new position in shares of AvePoint during the 4th quarter worth approximately $29,000. National Bank of Canada FI purchased a new stake in AvePoint in the 3rd quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in AvePoint during the 4th quarter valued at $45,000. Finally, Principal Securities Inc. increased its position in AvePoint by 12,961.9% during the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock worth $45,000 after buying an additional 2,722 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVPT. Citigroup decreased their price objective on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

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AvePoint Stock Performance

AvePoint stock traded down $0.88 during trading on Friday, hitting $13.41. The company's stock had a trading volume of 400,877 shares, compared to its average volume of 1,200,097. The stock's fifty day moving average is $16.66 and its 200 day moving average is $15.69. AvePoint, Inc. has a 1-year low of $7.62 and a 1-year high of $19.90. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -268.05 and a beta of 1.11.

Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the sale, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. This represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.19% 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.