Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Grows By 12.5%

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 7,840,000 shares, an increase of 12.5% from the November 30th total of 6,970,000 shares. Approximately 7.8% of the company’s stock are short sold. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 7.3 days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

AvePoint Stock Performance

Shares of AVPT traded up $0.02 during midday trading on Tuesday, hitting $16.50. 602,044 shares of the stock traded hands, compared to its average volume of 1,047,273. AvePoint has a 1-year low of $7.08 and a 1-year high of $19.16. The business’s 50 day moving average price is $16.20 and its two-hundred day moving average price is $12.84. The firm has a market capitalization of $3.08 billion, a PE ratio of -329.93 and a beta of 1.00.

Insider Activity at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.37, for a total transaction of $123,700.00. Following the completion of the sale, the insider now directly owns 18,370,673 shares in the company, valued at $227,245,225.01. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 90,215 shares of company stock worth $1,321,081. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock valued at $18,086,000 after buying an additional 184,361 shares during the last quarter. 272 Capital LP bought a new stake in AvePoint during the 3rd quarter valued at $1,426,000. Franklin Resources Inc. boosted its position in AvePoint by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after acquiring an additional 27,191 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in shares of AvePoint in the third quarter worth $1,094,000. Finally, Ashford Capital Management Inc. increased its holdings in shares of AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after purchasing an additional 99,505 shares during the period. Institutional investors own 44.49% 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.