R Squared Ltd Takes Position in AvePoint, Inc. (NASDAQ:AVPT)

R Squared Ltd bought a new position in AvePoint, Inc. (NASDAQ:AVPT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,735 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of AvePoint in the third quarter worth about $48,226,000. Geode Capital Management LLC lifted its holdings in AvePoint by 4.9% during the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after purchasing an additional 133,156 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AvePoint by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after purchasing an additional 184,361 shares during the period. Franklin Resources Inc. increased its stake in shares of AvePoint by 2.3% in the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after purchasing an additional 27,191 shares in the last quarter. Finally, Ashford Capital Management Inc. raised its position in shares of AvePoint by 10.0% during the 3rd quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after purchasing an additional 99,505 shares during the period. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Stock Up 0.3 %

Shares of AvePoint stock opened at $18.78 on Monday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -375.52 and a beta of 1.01. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $19.20. The business has a 50-day moving average price of $17.69 and a 200-day moving average price of $14.05.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 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 transaction of $171,200.00. Following the sale, the insider now directly owns 18,270,673 shares in the company, valued at $312,793,921.76. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James Caci sold 20,215 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 591,890 shares of the company’s stock, 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 have sold a total of 50,215 shares of company stock valued at $831,581 in the last quarter. 27.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their target price on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

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.