AvePoint, Inc. (NASDAQ:AVPT) Sees Significant Decrease in Short Interest

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 6,180,000 shares, a drop of 21.2% from the December 31st total of 7,840,000 shares. Currently, 6.2% of the company's stock are short sold. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 5.3 days.

Insider Buying and Selling at AvePoint

In other news, CFO James Caci sold 20,215 shares of the firm's 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 transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade 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 link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.66, for a total transaction of $156,600.00. Following the completion of the transaction, the insider now directly owns 18,290,673 shares in the company, valued at $286,431,939.18. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,215 shares of company stock valued at $831,581 in the last quarter. Corporate insiders own 27.78% of the company's stock.

Hedge Funds Weigh In On AvePoint

Large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in AvePoint in the 3rd quarter worth approximately $1,404,000. Millennium Management LLC raised its holdings in shares of AvePoint by 33.7% during the second 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 during the period. Susquehanna Fundamental Investments LLC bought a new position in AvePoint in the second quarter worth about $548,000. Quantbot Technologies LP boosted its stake in 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 period. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of AvePoint during the 3rd quarter worth approximately $1,424,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVPT shares. Citigroup boosted their price target on AvePoint from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. The Goldman Sachs Group boosted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, AvePoint has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

AvePoint Stock Down 1.0 %

Shares of AVPT traded down $0.18 during trading hours on Monday, reaching $18.60. 1,051,944 shares of the company traded hands, compared to its average volume of 1,140,178. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $19.20. The stock has a market capitalization of $3.47 billion, a PE ratio of -371.93 and a beta of 1.02. The stock has a fifty day simple moving average of $17.70 and a 200 day simple moving average of $14.11.

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.