D.A. Davidson & CO. Makes New $899,000 Investment in AvePoint, Inc. (NASDAQ:AVPT)

D.A. Davidson & CO. bought a new stake in AvePoint, Inc. (NASDAQ:AVPT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 76,341 shares of the company’s stock, valued at approximately $899,000.

A number of other institutional investors have also recently made changes to their positions in AVPT. Vanguard Group Inc. lifted its holdings in AvePoint by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after purchasing an additional 532,371 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AvePoint by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after buying an additional 227,324 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in AvePoint during the second quarter worth about $17,305,000. Federated Hermes Inc. grew its stake in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in AvePoint by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock valued at $10,565,000 after acquiring an additional 63,323 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 18,410,673 shares in the company, valued at approximately $215,957,194.29. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,215 shares of company stock worth $1,795,881. 27.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVPT. Northland Securities boosted 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. Cantor Fitzgerald raised their target price on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group boosted their price target on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.20.

AvePoint Stock Performance

Shares of AvePoint stock opened at $17.65 on Monday. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $18.75. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -352.93 and a beta of 0.88. The stock has a 50 day moving average of $13.64 and a 200 day moving average of $11.50.

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.