Balyasny Asset Management L.P. Purchases New Position in AvePoint, Inc. (NASDAQ:AVPT)

Balyasny Asset Management L.P. purchased a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 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 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of AvePoint by 56.9% during the 4th 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 last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 acquiring an additional 2,276,258 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AvePoint during the 4th quarter worth $18,067,000. Marshall Wace LLP bought a new stake in shares of AvePoint during the 4th quarter worth $11,342,000. Finally, Next Century Growth Investors LLC bought a new stake in shares of AvePoint during the 4th quarter worth $10,044,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

AvePoint Price Performance

AvePoint stock traded down $0.22 during mid-day trading on Friday, hitting $19.38. The company's stock had a trading volume of 1,002,690 shares, compared to its average volume of 1,251,205. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -387.52 and a beta of 1.30. The business has a 50 day moving average price of $15.59 and a 200-day moving average price of $16.61. AvePoint, Inc. has a 12 month low of $8.87 and a 12 month high of $20.25.

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total transaction 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 represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 26.19% of the stock is currently owned by insiders.

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.