Balyasny Asset Management L.P. Takes $2.58 Million Position in AvePoint, Inc. (NASDAQ:AVPT)

Balyasny Asset Management L.P. bought a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 156,479 shares of the company's stock, valued at approximately $2,583,000. Balyasny Asset Management L.P. owned approximately 0.08% of AvePoint as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in AVPT. Vanguard Group Inc. increased its position in AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock worth $252,276,000 after buying an additional 150,885 shares during the period. Wellington Management Group LLP increased its holdings in shares of AvePoint by 56.9% in the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after acquiring an additional 2,332,813 shares during the period. Geode Capital Management LLC raised its position in AvePoint by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company's stock valued at $47,067,000 after purchasing an additional 20,720 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in AvePoint by 566.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after purchasing an additional 2,276,258 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in AvePoint by 7.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock worth $27,370,000 after purchasing an additional 121,144 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank upped their target price on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group upped their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday. Citigroup decreased their price objective on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, William Blair reissued an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.40.

AvePoint Stock Performance

NASDAQ:AVPT traded down $0.23 during mid-day trading on Thursday, reaching $19.60. The stock had a trading volume of 790,012 shares, compared to its average volume of 1,253,632. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -391.92 and a beta of 1.30. AvePoint, Inc. has a twelve month low of $8.44 and a twelve month high of $20.25. The business has a 50 day simple moving average of $15.35 and a 200 day simple moving average of $16.48.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of the transaction, the insider now directly owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 26.19% of the company's stock.

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.