Point72 Asset Management L.P. Has $399,000 Stake in AvePoint, Inc. (NASDAQ:AVPT)

Point72 Asset Management L.P. reduced its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 45.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,900 shares of the company’s stock after selling 27,700 shares during the quarter. Point72 Asset Management L.P.’s holdings in AvePoint were worth $399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in AvePoint during the 2nd quarter worth $83,000. Algert Global LLC acquired a new position in shares of AvePoint in the 2nd quarter valued at approximately $116,000. Balboa Wealth Partners acquired a new position in shares of AvePoint in the 3rd quarter valued at approximately $125,000. nVerses Capital LLC acquired a new stake in AvePoint during the 2nd quarter worth approximately $173,000. Finally, US Bancorp DE lifted its stake in AvePoint by 8.0% in 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 in the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Stock Performance

NASDAQ AVPT opened at $18.57 on Friday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -371.40 and a beta of 0.99. AvePoint, Inc. has a 52 week low of $7.08 and a 52 week high of $19.16. The stock’s 50 day moving average price is $14.87 and its two-hundred day moving average price is $12.07.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Insider Transactions at AvePoint

In related news, CFO James Caci sold 20,215 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00. Following the sale, the insider now directly owns 18,410,673 shares in the company, valued at $215,957,194.29. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,215 shares of company stock valued at $1,795,881 over the last 90 days. 27.78% of the stock is owned by corporate insiders.

AvePoint Company 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.