CenterBook Partners LP Takes Position in AvePoint, Inc. (NASDAQ:AVPT)

CenterBook Partners LP bought a new position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 97,479 shares of the company's stock, valued at approximately $1,408,000.

A number of other institutional investors also recently bought and sold shares of the stock. Northern Trust Corp grew its position in shares of AvePoint by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,160,554 shares of the company's stock valued at $19,161,000 after purchasing an additional 99,725 shares in the last quarter. Two Sigma Investments LP grew its position in shares of AvePoint by 155.5% during the fourth quarter. Two Sigma Investments LP now owns 108,192 shares of the company's stock valued at $1,786,000 after purchasing an additional 65,852 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of AvePoint by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock valued at $222,000 after purchasing an additional 1,042 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of AvePoint by 282.9% during the fourth quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock valued at $755,000 after purchasing an additional 33,801 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock valued at $252,276,000 after purchasing an additional 150,885 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

Insider Buying and Selling at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $18.23, for a total value of $638,050.00. Following the completion of the sale, the insider directly owned 1,225,443 shares of the company's stock, valued at $22,339,825.89. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the transaction, the director owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 605,000 shares of company stock valued at $11,188,550. Corporate insiders own 26.19% of the company's stock.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded down $0.18 during midday trading on Friday, reaching $18.78. 1,541,285 shares of the stock were exchanged, compared to its average volume of 1,238,849. The company has a 50 day simple moving average of $18.80 and a 200 day simple moving average of $17.20. The stock has a market capitalization of $3.82 billion, a P/E ratio of -144.45 and a beta of 1.33. AvePoint, Inc. has a twelve month low of $9.38 and a twelve month high of $20.25.

Analyst Ratings Changes

Several brokerages have issued reports on AVPT. The Goldman Sachs Group boosted their target price on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Scotiabank boosted their target price on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.40.

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.