EntryPoint Capital LLC Purchases New Position in AvePoint, Inc. $AVPT

Key Points

• EntryPoint Capital LLC has acquired a new stake in AvePoint, Inc. by purchasing 36,373 shares valued at approximately $525,000 in the first quarter.
• Multiple institutional investors, including Heck Capital Advisors and Summit Securities Group, have also increased their positions in AvePoint recently, resulting in institutional ownership of 44.49% of the company's stock.
• Analyst ratings for AvePoint vary, with Goldman Sachs adjusting their price target to $17.00 while Jefferies set a target of $22.00, reflecting a consensus average target price of $19.75.

EntryPoint Capital LLC purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 36,373 shares of the company's stock, valued at approximately $525,000.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVPT. The Goldman Sachs Group raised their price objective on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Jefferies Financial Group began coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective for the company. Citigroup decreased 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. Finally, Scotiabank raised their price objective on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, AvePoint has an average rating of "Moderate Buy" and an average target price of $19.75.

Insider Activity at AvePoint

In other news, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction that occurred 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 sale, the director owned 1,157,891 shares of the company's stock, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total transaction of $655,900.00. Following the sale, the insider directly owned 1,190,443 shares of the company's stock, valued at $22,308,901.82. This represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 605,000 shares of company stock valued at $11,315,600 in the last ninety days. Insiders own 26.19% of the company's stock.

AvePoint Stock Performance

AvePoint stock opened at $14.90 on Wednesday. The company has a 50 day moving average price of $18.02 and a 200-day moving average price of $17.16. AvePoint, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $20.25. The company has a market capitalization of $3.16 billion, a PE ratio of -297.94 and a beta of 1.35.

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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