AvePoint, Inc. (NASDAQ:AVPT) Short Interest Down 21.2% in December

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

Wall Street Analysts Forecast Growth

AVPT has been the subject of a number of research analyst reports. Citigroup raised their price target on AvePoint from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday. The Goldman Sachs Group raised their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a report 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.00.

AvePoint Trading Down 2.0 %

Shares of NASDAQ AVPT traded down $0.35 during trading on Friday, reaching $17.21. The company had a trading volume of 924,536 shares, compared to its average volume of 987,821. The stock has a market capitalization of $3.21 billion, a PE ratio of -344.13 and a beta of 1.01. AvePoint has a twelve month low of $7.08 and a twelve month high of $19.16. The stock has a 50-day moving average price of $17.34 and a two-hundred day moving average price of $13.41.

Insider Buying and Selling at AvePoint

In related news, CFO James Caci sold 20,215 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the sale, the chief financial officer now owns 591,890 shares in the company, valued at $10,133,156.80. This represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the transaction, the insider now directly owns 18,270,673 shares of the company's stock, valued at approximately $312,793,921.76. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,215 shares of company stock valued at $952,581. 27.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On AvePoint

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE lifted its position in AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company's stock worth $220,000 after buying an additional 1,391 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of AvePoint by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company's stock worth $2,004,000 after acquiring an additional 2,112 shares during the period. National Bank of Canada FI acquired a new stake in shares of AvePoint in the third quarter worth approximately $29,000. Cerity Partners LLC boosted its position in shares of AvePoint by 6.6% in the third quarter. Cerity Partners LLC now owns 41,499 shares of the company's stock worth $488,000 after acquiring an additional 2,571 shares during the last quarter. Finally, Creative Planning grew its holdings in AvePoint by 19.1% in the third quarter. Creative Planning now owns 29,345 shares of the company's stock valued at $345,000 after purchasing an additional 4,698 shares during the period. Hedge funds and other institutional investors own 44.49% 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.