Parsifal Capital Management LP Buys New Position in AvePoint, Inc. (NASDAQ:AVPT)

Parsifal Capital Management LP acquired a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,205,900 shares of the company's stock, valued at approximately $36,419,000. AvePoint accounts for approximately 3.0% of Parsifal Capital Management LP's portfolio, making the stock its 12th largest position. Parsifal Capital Management LP owned approximately 1.18% of AvePoint as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVPT. Wellington Management Group LLP grew its holdings in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock worth $106,163,000 after acquiring an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after acquiring an additional 2,276,258 shares during the period. Raymond James Financial Inc. acquired a new stake in AvePoint in the fourth quarter valued at $18,067,000. Gotham Asset Management LLC grew its holdings in AvePoint by 4,694.5% in the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company's stock valued at $13,884,000 after purchasing an additional 823,423 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of AvePoint in the fourth quarter valued at $11,342,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVPT. Scotiabank raised their price target on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. The Goldman Sachs Group increased their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Finally, Citigroup decreased their price objective on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, AvePoint presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

AvePoint Price Performance

NASDAQ:AVPT traded down $0.29 during mid-day trading on Monday, reaching $19.09. The company's stock had a trading volume of 273,882 shares, compared to its average volume of 1,247,416. The company's fifty day simple moving average is $15.59 and its two-hundred day simple moving average is $16.64. AvePoint, Inc. has a twelve month low of $8.87 and a twelve month high of $20.25. The stock has a market cap of $3.85 billion, a P/E ratio of -381.88 and a beta of 1.30.

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $528,850.00. Following the transaction, the insider now directly owns 1,312,145 shares in the company, valued at $19,826,510.95. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 26.19% of the stock is owned by corporate insiders.

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.