Eagle Asset Management Inc. Decreases Position in AvePoint, Inc. (NASDAQ:AVPT)

Eagle Asset Management Inc. decreased its position in AvePoint, Inc. (NASDAQ:AVPT) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,181,404 shares of the company’s stock after selling 54,770 shares during the period. Eagle Asset Management Inc. owned about 0.63% of AvePoint worth $13,905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in shares of AvePoint in the second quarter worth about $83,000. Balboa Wealth Partners bought a new stake in AvePoint during the 3rd quarter valued at $125,000. Algert Global LLC purchased a new stake in shares of AvePoint during the second quarter worth $116,000. Bayesian Capital Management LP bought a new position in shares of AvePoint in the first quarter worth $130,000. Finally, nVerses Capital LLC purchased a new position in shares of AvePoint in the second quarter valued at $173,000. 44.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVPT. Northland Securities increased their price objective on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. The Goldman Sachs Group raised their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald upped their target price on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, AvePoint has a consensus rating of “Moderate Buy” and an average target price of $13.20.

AvePoint Stock Up 1.5 %

NASDAQ:AVPT opened at $18.57 on Friday. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $18.75. The stock has a market cap of $3.47 billion, a P/E ratio of -371.33 and a beta of 0.88. The business’s 50-day moving average price is $13.04 and its two-hundred day moving average price is $11.16.

Insider Buying and Selling at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $10.80, for a total transaction of $108,000.00. Following the sale, the insider now owns 18,410,673 shares in the company, valued at approximately $198,835,268.40. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James Caci sold 20,215 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,215 shares of company stock worth $1,903,881 over the last three months. 27.78% of the stock is owned by insiders.

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.