Counterpoint Mutual Funds LLC Acquires New Stake in AvePoint, Inc. $AVPT

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in AvePoint, Inc., purchasing 138,152 shares valued at approximately $2.67 million, making it the firm’s 11th largest holding.
• Several institutional investors have recently increased their positions in AvePoint, with notable boosts from Summit Securities Group LLC (up 621.7%) and Quarry LP (up 2,028.3%) during the first quarter.
• AvePoint's stock has mixed ratings from analysts, with firms like Jefferies and B. Riley giving it a "buy" rating and set target prices of $22 and $25 respectively.

Counterpoint Mutual Funds LLC acquired a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 138,152 shares of the company's stock, valued at approximately $2,668,000. AvePoint accounts for 0.2% of Counterpoint Mutual Funds LLC's portfolio, making the stock its 11th biggest holding. Counterpoint Mutual Funds LLC owned 0.07% of AvePoint as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AVPT. Heck Capital Advisors LLC purchased a new position in AvePoint during the 4th quarter valued at $29,000. Versant Capital Management Inc purchased a new position in AvePoint during the 1st quarter valued at $31,000. Summit Securities Group LLC boosted its holdings in AvePoint by 621.7% during the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock valued at $38,000 after acquiring an additional 2,263 shares during the period. Quarry LP boosted its holdings in AvePoint by 2,028.3% during the 1st quarter. Quarry LP now owns 3,831 shares of the company's stock valued at $55,000 after acquiring an additional 3,651 shares during the period. Finally, KBC Group NV purchased a new position in AvePoint during the 1st quarter valued at $67,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

Insider Activity at AvePoint

In related news, Director John Chi On Ho sold 650,000 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the transaction, the director directly owned 3,732,679 shares of the company's stock, valued at $56,774,047.59. This represents a 14.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tianyi Jiang sold 2,068,966 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $31,468,972.86. Following the transaction, the chief executive officer directly owned 13,841,853 shares in the company, valued at $210,534,584.13. This represents a 13.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,573,932 shares of company stock worth $84,912,156 over the last ninety days. Corporate insiders own 26.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVPT. Jefferies Financial Group began coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective for the company. B. Riley started coverage on AvePoint in a report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price objective for the company. DA Davidson set a $20.00 target price on AvePoint in a research report on Monday. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Citigroup decreased their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $20.67.

AvePoint Price Performance

Shares of NASDAQ:AVPT opened at $15.75 on Tuesday. The business's 50-day moving average is $16.65 and its 200 day moving average is $16.83. AvePoint, Inc. has a 1 year low of $11.43 and a 1 year high of $20.25. The firm has a market capitalization of $3.34 billion, a P/E ratio of -314.94 and a beta of 1.40.

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.

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