Fox Run Management L.L.C. Trims Stock Position in AvePoint, Inc. $AVPT

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 stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 36.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other large investors also recently bought and sold shares of AVPT. M&T Bank Corp raised its stake in shares of AvePoint by 3.0% in the first quarter. M&T Bank Corp now owns 22,058 shares of the company's stock worth $319,000 after purchasing an additional 634 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of AvePoint by 3.1% in the first quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock worth $447,000 after acquiring an additional 922 shares during the period. 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 worth $222,000 after purchasing an additional 1,042 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in shares of AvePoint by 4.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in AvePoint during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Stock Up 4.3%

Shares of NASDAQ AVPT traded up $0.65 during trading on Friday, hitting $15.62. The company had a trading volume of 1,304,713 shares, compared to its average volume of 1,667,317. AvePoint, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $20.25. The stock has a fifty day simple moving average of $17.80 and a two-hundred day simple moving average of $17.06. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -312.34 and a beta of 1.35.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AVPT shares. Citigroup cut their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Scotiabank lifted their price target on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Jefferies Financial Group began coverage on AvePoint in a research report on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective on the stock. 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. Finally, Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

Insider Buying and Selling

In other news, Director Jeff Epstein sold 500,000 shares of the firm's 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 transaction, the director owned 1,157,891 shares in the company, valued at $21,733,614.07. This trade represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were 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 in the company, valued at $22,308,901.82. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,000 shares of company stock valued at $10,678,950 in the last three months. Insiders own 26.19% of the company's stock.

AvePoint Company 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.