Alpine Global Management LLC Purchases Shares of 16,452 AvePoint, Inc. $AVPT

Key Points

• Alpine Global Management LLC acquired 16,452 shares of AvePoint, Inc. valued at approximately $238,000, further indicating increased institutional interest in the company.
• Insider transactions included Director Jeff Epstein selling 500,000 shares for $9.4 million, resulting in a significant decrease in his ownership stake.
• Analysts have varied ratings for AvePoint, with a consensus price target of $20.80 and recommendations ranging from "Strong Buy" to "Hold."

Alpine Global Management LLC bought a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 16,452 shares of the company's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp increased its position in shares of AvePoint by 3.0% during the first quarter. M&T Bank Corp now owns 22,058 shares of the company's stock valued at $319,000 after buying an additional 634 shares during the period. State of Wyoming lifted its position in AvePoint by 3.0% in the first quarter. State of Wyoming now owns 27,128 shares of the company's stock valued at $392,000 after purchasing an additional 780 shares during the last quarter. SG Americas Securities LLC lifted its position in AvePoint by 3.1% in the first quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock valued at $447,000 after purchasing an additional 922 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in AvePoint by 4.9% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock valued at $346,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in AvePoint in the fourth quarter valued at approximately $29,000. 44.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVPT has been the subject of a number of recent analyst reports. Citigroup decreased their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Scotiabank increased their price objective on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group increased their price objective on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. B. Riley started coverage on AvePoint in a report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on AvePoint in a report on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded down $0.12 during trading on Tuesday, hitting $16.24. The company had a trading volume of 1,667,419 shares, compared to its average volume of 1,639,157. The stock has a 50 day simple moving average of $17.43 and a 200 day simple moving average of $16.91. AvePoint, Inc. has a 12 month low of $11.33 and a 12 month high of $20.25. The firm has a market capitalization of $3.44 billion, a P/E ratio of -324.74 and a beta of 1.40.

Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $15.47, for a total transaction of $541,450.00. Following the sale, the insider owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 105,000 shares of company stock worth $1,835,400. 26.19% of the stock is currently owned by company 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.