Arete Wealth Advisors LLC Sells 1,205 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Arete Wealth Advisors LLC reduced its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,150 shares of the company’s stock after selling 1,205 shares during the period. Arete Wealth Advisors LLC’s holdings in AvePoint were worth $143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP bought a new stake in AvePoint during the third quarter valued at about $48,226,000. Driehaus Capital Management LLC bought a new stake in AvePoint during the 2nd quarter valued at approximately $17,305,000. Cubist Systematic Strategies LLC grew its holdings in AvePoint by 2,948.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock valued at $5,735,000 after buying an additional 532,294 shares during the last quarter. Squarepoint Ops LLC increased its position in AvePoint by 198.2% in the 2nd quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock worth $5,415,000 after buying an additional 345,370 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of AvePoint during the second quarter worth approximately $2,881,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised 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 given a buy rating to the company’s stock. According to MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Insider Buying and Selling

In related news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total value of $117,300.00. Following the completion of the transaction, the insider now owns 18,410,673 shares of the company’s stock, valued at $215,957,194.29. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the sale, the chief financial officer now directly owns 591,890 shares in the company, valued at $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,215 shares of company stock valued at $1,795,881 over the last ninety days. 27.78% of the stock is owned by company insiders.

AvePoint Stock Down 1.1 %

AvePoint stock opened at $18.37 on Friday. AvePoint, Inc. has a 12 month low of $7.08 and a 12 month high of $19.16. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -367.30 and a beta of 1.00. The business has a 50 day moving average price of $15.00 and a two-hundred day moving average price of $12.16.

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.