Balboa Wealth Partners Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

Balboa Wealth Partners bought a new position in AvePoint, Inc. (NASDAQ:AVPT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 10,614 shares of the company’s stock, valued at approximately $125,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in AvePoint in the second quarter worth $83,000. Algert Global LLC purchased a new stake in shares of AvePoint during the second quarter valued at approximately $116,000. Bayesian Capital Management LP bought a new stake in shares of AvePoint during the first quarter valued at approximately $130,000. SG Americas Securities LLC increased its position in shares of AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after acquiring an additional 5,125 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in AvePoint in the 2nd quarter worth approximately $173,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Trading Down 0.6 %

Shares of AVPT opened at $15.73 on Friday. The firm has a fifty day simple moving average of $12.48 and a two-hundred day simple moving average of $10.82. The firm has a market cap of $2.94 billion, a PE ratio of -314.60 and a beta of 0.88. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $16.50.

Analyst Ratings Changes

Several analysts have commented on the company. Northland Securities lifted their target price 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 increased their price objective on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Cantor Fitzgerald boosted their target price on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.20.

Insider Buying and Selling

In related news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total transaction of $108,900.00. Following the completion of the sale, the insider now directly owns 18,440,673 shares in the company, valued at approximately $200,818,928.97. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Caci sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the sale, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at approximately $6,874,216.44. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock valued at $1,724,500 over the last 90 days. Company insiders own 27.78% of the company’s stock.

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.