Caxton Associates LLP Makes New Investment in AvePoint, Inc. $AVPT

Key Points

• Caxton Associates LLP has made a new investment in AvePoint, Inc., acquiring 24,323 shares valued at approximately $351,000.
• Institutional investors and hedge funds now own 44.49% of AvePoint's stock, with notable investments from Parsifal Capital Management and Millennium Management.
• AvePoint's stock rating has a consensus of "Moderate Buy" with an average target price of $20.80 according to multiple analysts.

Caxton Associates LLP acquired a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,323 shares of the company's stock, valued at approximately $351,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in AvePoint by 5.3% in the 1st quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company's stock worth $97,769,000 after acquiring an additional 340,509 shares during the last quarter. Parsifal Capital Management LP increased its stake in AvePoint by 130.3% in the 1st quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company's stock worth $73,366,000 after acquiring an additional 2,874,842 shares during the last quarter. Jennison Associates LLC bought a new position in AvePoint in the 1st quarter worth about $30,648,000. Millennium Management LLC increased its stake in AvePoint by 104.3% in the 1st quarter. Millennium Management LLC now owns 2,058,092 shares of the company's stock worth $29,719,000 after acquiring an additional 1,050,500 shares during the last quarter. Finally, Invesco Ltd. increased its stake in AvePoint by 112.8% in the 1st quarter. Invesco Ltd. now owns 1,678,190 shares of the company's stock worth $24,233,000 after acquiring an additional 889,671 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

AvePoint Stock Performance

AVPT traded up $0.52 on Thursday, hitting $15.96. 1,147,285 shares of the company were exchanged, compared to its average volume of 1,230,325. The firm has a fifty day simple moving average of $16.75 and a two-hundred day simple moving average of $16.79. AvePoint, Inc. has a 12 month low of $11.43 and a 12 month high of $20.25. The stock has a market capitalization of $3.38 billion, a PE ratio of -319.14 and a beta of 1.40.

Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the firm's 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 transaction, the insider directly owned 1,155,443 shares in the company, valued at $17,874,703.21. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 105,000 shares of company stock worth $1,835,400. 26.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AVPT. Citigroup decreased their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Jefferies Financial Group initiated coverage on AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective on the stock. B. Riley initiated coverage on AvePoint in a research report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.

AvePoint 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.