HighTower Advisors LLC Sells 57,718 Shares of AvePoint, Inc. (NASDAQ:AVPT)

HighTower Advisors LLC decreased its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 21.8% in the third quarter, HoldingsChannel.com reports. The fund owned 207,513 shares of the company’s stock after selling 57,718 shares during the period. HighTower Advisors LLC’s holdings in AvePoint were worth $2,443,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of AvePoint by 33.7% in the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after purchasing an additional 161,759 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in AvePoint in the third quarter worth about $1,404,000. Susquehanna Fundamental Investments LLC bought a new stake in AvePoint during the 2nd quarter valued at approximately $548,000. Quantbot Technologies LP boosted its position in shares of AvePoint by 142.8% during the third quarter. Quantbot Technologies LP now owns 153,747 shares of the company’s stock valued at $1,810,000 after purchasing an additional 90,413 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in shares of AvePoint during the 3rd quarter valued at $1,424,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Down 1.1 %

AVPT opened at $18.37 on Friday. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $19.16. The firm has a 50 day moving average price of $15.00 and a 200-day moving average price of $12.14. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -367.23 and a beta of 1.00.

Analysts Set New Price Targets

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

Insider Buying and Selling at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.91, for a total transaction of $119,100.00. Following the completion of the sale, the insider now owns 18,430,673 shares in the company, valued at approximately $219,509,315.43. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their position. 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. Insiders own 27.78% of the company’s stock.

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.