Aquatic Capital Management LLC Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

Aquatic Capital Management LLC acquired a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 44,851 shares of the company's stock, valued at approximately $740,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company's stock valued at $73,000 after acquiring an additional 1,010 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in AvePoint by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock valued at $222,000 after buying an additional 1,042 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of AvePoint by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 49,571 shares of the company's stock worth $818,000 after purchasing an additional 1,083 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of AvePoint in the fourth quarter valued at about $25,000. Finally, Blair William & Co. IL increased its position in AvePoint by 24.7% in the fourth quarter. Blair William & Co. IL now owns 7,563 shares of the company's stock worth $125,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Stock Performance

Shares of NASDAQ:AVPT traded down $0.12 during trading on Tuesday, reaching $16.92. The stock had a trading volume of 650,147 shares, compared to its average volume of 1,218,590. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -338.07 and a beta of 1.30. The firm's fifty day moving average is $14.89 and its 200 day moving average is $16.23. AvePoint, Inc. has a 52 week low of $8.06 and a 52 week high of $19.90.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. William Blair reissued an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Finally, Scotiabank started coverage on AvePoint in a research report on Thursday, May 1st. They issued a "sector outperform" rating and a $19.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, AvePoint has a consensus rating of "Moderate Buy" and an average price target of $16.40.

Insider Activity at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the sale, the insider now owns 1,347,145 shares in the company, valued at $20,746,033. This represents a 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 26.19% of the stock is currently owned by corporate insiders.

AvePoint Company 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.