AvePoint, Inc. $AVPT Shares Sold by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. reduced its holdings in AvePoint, Inc. by 19.8% during Q1, now owning 888,840 shares valued at approximately $12.8 million.
• Several hedge funds have recently adjusted their positions in AvePoint, with a notable increase from Summit Securities Group LLC, which grew its stake by 621.7%.
• AvePoint received varied ratings from analysts, with a consensus price target of $20.80 and the majority giving it a "Moderate Buy" rating.

Ashford Capital Management Inc. decreased its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 888,840 shares of the company's stock after selling 219,880 shares during the period. AvePoint accounts for approximately 1.7% of Ashford Capital Management Inc.'s holdings, making the stock its 25th biggest holding. Ashford Capital Management Inc. owned 0.44% of AvePoint worth $12,835,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AVPT. Heck Capital Advisors LLC purchased a new stake in AvePoint in the 4th quarter worth about $29,000. Versant Capital Management Inc purchased a new position in AvePoint in the first quarter worth $31,000. Summit Securities Group LLC lifted its stake in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after buying an additional 2,263 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth $40,000. Finally, KBC Group NV acquired a new position in AvePoint during the first quarter valued at $67,000. Institutional investors own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AVPT shares. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Citigroup dropped their price objective on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. The Goldman Sachs Group increased their price target on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Jefferies Financial Group started coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price target for the company. Finally, Scotiabank upped 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.80.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the completion of the sale, the insider directly owned 1,155,443 shares in the company, valued at $17,874,703.21. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 105,000 shares of company stock worth $1,835,400 in the last ninety days. 26.19% of the stock is owned by insiders.

AvePoint Stock Performance

AVPT stock traded up $0.15 during trading on Thursday, reaching $16.25. 405,572 shares of the company were exchanged, compared to its average volume of 1,352,166. The company has a market cap of $3.44 billion, a P/E ratio of -324.94 and a beta of 1.40. AvePoint, Inc. has a 52-week low of $11.34 and a 52-week high of $20.25. The stock's 50 day moving average price is $17.38 and its 200 day moving average price is $16.90.

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.