AvePoint, Inc. $AVPT Shares Sold by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. reduced its stake in AvePoint, Inc. by 36.3% during the first quarter, selling 17,481 shares, leaving it with 30,612 shares valued at $442,000.
• Insiders have recently sold a total of 605,000 shares of AvePoint stock worth approximately $11.3 million, indicating a significant decrease in their ownership.
• Analysts have mixed sentiment on AvePoint's stock, with ratings ranging from buy to neutral and an average price target of $19.75, reflecting diverse opinions on its future performance.

Fox Run Management L.L.C. lowered its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 36.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,612 shares of the company's stock after selling 17,481 shares during the quarter. Fox Run Management L.L.C.'s holdings in AvePoint were worth $442,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of AvePoint by 5.9% during the first quarter. Principal Financial Group Inc. now owns 78,396 shares of the company's stock valued at $1,132,000 after acquiring an additional 4,348 shares during the last quarter. Northern Trust Corp raised its holdings 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 acquiring an additional 99,725 shares during the last quarter. Two Sigma Investments LP raised its holdings 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 acquiring an additional 65,852 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings 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 acquiring an additional 1,042 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings 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 acquiring an additional 33,801 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

Insider Activity at AvePoint

In related news, Director Jeff Epstein sold 500,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total value of $9,385,000.00. Following the completion of the transaction, the director directly 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 sale 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 the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total value of $655,900.00. Following the completion of the transaction, the insider owned 1,190,443 shares of the company's stock, valued at $22,308,901.82. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,000 shares of company stock valued at $10,678,950 over the last quarter. 26.19% of the stock is currently owned by company insiders.

AvePoint Trading Up 4.3%

AvePoint stock traded up $0.65 during mid-day trading on Friday, hitting $15.62. The company's stock had a trading volume of 1,304,713 shares, compared to its average volume of 1,646,294. The firm has a market capitalization of $3.31 billion, a PE ratio of -312.34 and a beta of 1.35. AvePoint, Inc. has a 1 year low of $10.65 and a 1 year high of $20.25. The stock's fifty day moving average is $17.80 and its two-hundred day moving average is $17.10.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVPT shares. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a report on Friday, July 25th. The Goldman Sachs Group increased their price target on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Scotiabank increased their price target on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th. Citigroup cut their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Finally, Jefferies Financial Group started coverage on AvePoint in a report on Monday, July 21st. They issued a "buy" rating and a $22.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

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.