AvePoint, Inc. (NASDAQ:AVPT) Position Increased by Fmr LLC

Fmr LLC increased its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 1,253.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,275 shares of the company’s stock after buying an additional 35,446 shares during the quarter. Fmr LLC’s holdings in AvePoint were worth $450,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint during the second quarter valued at $83,000. Algert Global LLC bought a new stake in AvePoint in the 2nd quarter valued at about $116,000. Balboa Wealth Partners acquired a new position in AvePoint during the 3rd quarter valued at about $125,000. nVerses Capital LLC acquired a new position in AvePoint during the 2nd quarter valued at about $173,000. Finally, US Bancorp DE grew its position in AvePoint by 8.0% in the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company’s stock worth $220,000 after purchasing an additional 1,391 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the 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 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 position. The sale 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 business’s 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 completion of the sale, the insider now directly owns 18,380,673 shares in the company, valued at $218,730,008.70. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,215 shares of company stock valued at $1,440,081. Company insiders own 27.78% of the company’s stock.

AvePoint Stock Down 0.1 %

Shares of NASDAQ AVPT opened at $17.74 on Friday. The stock has a market cap of $3.31 billion, a P/E ratio of -354.73 and a beta of 1.00. The firm’s 50-day simple moving average is $15.48 and its 200 day simple moving average is $12.39. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $19.16.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their price target on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.20.

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.