Geode Capital Management LLC Acquires 133,156 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Geode Capital Management LLC lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 4.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,829,548 shares of the company’s stock after acquiring an additional 133,156 shares during the quarter. Geode Capital Management LLC’s holdings in AvePoint were worth $33,309,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. increased its position in shares of AvePoint by 7.5% during the 2nd quarter. Principal Financial Group Inc. now owns 86,724 shares of the company’s stock valued at $904,000 after purchasing an additional 6,027 shares during the last quarter. nVerses Capital LLC purchased a new stake in AvePoint during the second quarter worth about $173,000. Acadian Asset Management LLC bought a new stake in AvePoint in the second quarter worth about $2,250,000. Quest Partners LLC bought a new stake in AvePoint in the second quarter worth about $434,000. Finally, Federated Hermes Inc. grew its position in shares of AvePoint by 3.6% during the 2nd quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after acquiring an additional 32,821 shares during the period. 44.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO James Caci sold 20,215 shares of the business’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 sale, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $12.24, for a total value of $122,400.00. Following the completion of the transaction, the insider now owns 18,350,673 shares of the company’s stock, valued at approximately $224,612,237.52. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,215 shares of company stock valued at $1,321,081. Company insiders own 27.78% of the company’s stock.

Analyst Ratings Changes

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

AvePoint Stock Up 1.9 %

NASDAQ AVPT opened at $17.80 on Thursday. The company has a market cap of $3.32 billion, a PE ratio of -355.93 and a beta of 1.00. The firm’s 50-day simple moving average is $15.91 and its two-hundred day simple moving average is $12.65. AvePoint, Inc. has a 52 week low of $7.08 and a 52 week high of $19.16.

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.