Walleye Capital LLC Takes $2.97 Million Position in AvePoint, Inc. (NASDAQ:AVPT)

Walleye Capital LLC acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 252,345 shares of the company's stock, valued at approximately $2,970,000. Walleye Capital LLC owned about 0.14% of AvePoint at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVPT. Canada Pension Plan Investment Board acquired a new position in AvePoint during the 2nd quarter worth $83,000. Algert Global LLC acquired a new position in AvePoint during the 2nd quarter worth $116,000. Balboa Wealth Partners acquired a new position in AvePoint during the 3rd quarter worth $125,000. nVerses Capital LLC acquired a new position in AvePoint during the 2nd quarter worth $173,000. Finally, US Bancorp DE raised its position in shares of AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company's stock valued at $220,000 after buying an additional 1,391 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AVPT shares. Cantor Fitzgerald upped their price objective on shares of AvePoint from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Northland Securities upped their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group upped their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.20.

Insiders Place Their Bets

In other news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $171,200.00. Following the completion of the sale, the insider now owns 18,270,673 shares of the company's stock, valued at $312,793,921.76. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction on Wednesday, November 20th. The stock was 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 of the company's stock, valued at $10,133,156.80. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,215 shares of company stock worth $1,795,881. Company insiders own 27.78% of the company's stock.

AvePoint Trading Up 1.7 %

AVPT traded up $0.31 during mid-day trading on Tuesday, hitting $18.22. The stock had a trading volume of 1,027,026 shares, compared to its average volume of 1,495,012. The stock's fifty day simple moving average is $13.77 and its 200-day simple moving average is $11.59. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $18.75.

AvePoint 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.