JPMorgan Chase & Co. Purchases 184,361 Shares of AvePoint, Inc. (NASDAQ:AVPT)

JPMorgan Chase & Co. raised its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,536,660 shares of the company’s stock after buying an additional 184,361 shares during the period. JPMorgan Chase & Co.’s holdings in AvePoint were worth $18,086,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. 272 Capital LP bought a new position in shares of AvePoint during the third quarter valued at about $1,426,000. Franklin Resources Inc. increased its holdings in AvePoint by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after purchasing an additional 27,191 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in AvePoint in the 3rd quarter worth approximately $1,094,000. Ashford Capital Management Inc. grew its position in shares of AvePoint by 10.0% in the 3rd quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after buying an additional 99,505 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of AvePoint by 4.9% during 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. Institutional investors own 44.49% of the company’s stock.

Insider Activity

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the sale, the insider now owns 18,270,673 shares in the company, valued at $312,793,921.76. This represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 20,215 shares of the firm’s 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 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 disclosure for this sale can be found here. Insiders sold a total of 90,215 shares of company stock worth $1,321,081 in the last quarter. 27.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

AvePoint Price Performance

Shares of AVPT opened at $16.62 on Friday. AvePoint, Inc. has a one year low of $7.08 and a one year high of $19.16. The company has a 50-day simple moving average of $16.93 and a two-hundred day simple moving average of $13.19. The firm has a market capitalization of $3.10 billion, a PE ratio of -332.33 and a beta of 1.01.

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.