Tidal Investments LLC Sells 11,787 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Tidal Investments LLC cut its stake in AvePoint, Inc. (NASDAQ:AVPT) by 18.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,834 shares of the company’s stock after selling 11,787 shares during the period. Tidal Investments LLC’s holdings in AvePoint were worth $634,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new position in shares of AvePoint in the 3rd quarter worth approximately $1,094,000. Ashford Capital Management Inc. lifted its holdings in AvePoint by 10.0% in the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after buying an additional 99,505 shares during the period. Geode Capital Management LLC lifted its holdings in AvePoint by 4.9% in the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after buying an additional 133,156 shares during the period. Barclays PLC boosted its position in AvePoint by 358.5% during the third quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after acquiring an additional 161,354 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in AvePoint during the 3rd quarter worth about $171,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Trading Up 0.8 %

NASDAQ:AVPT opened at $17.89 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 capitalization of $3.34 billion, a price-to-earnings ratio of -357.73 and a beta of 1.00. The firm has a fifty day simple moving average of $15.59 and a two-hundred day simple moving average of $12.45.

Insider Activity

In related news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.90, for a total value of $119,000.00. Following the transaction, the insider now directly owns 18,380,673 shares in the company, valued at $218,730,008.70. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction 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 approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,215 shares of company stock worth $1,440,081 in the last three months. Company insiders own 27.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group boosted their price objective 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 given a buy rating to the stock. Based on data from MarketBeat, AvePoint has a consensus rating of “Moderate Buy” and an average price target of $13.20.

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.