Hussman Strategic Advisors Inc. acquired a new position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 105,000 shares of the company's stock, valued at approximately $1,516,000. Hussman Strategic Advisors Inc. owned approximately 0.05% of AvePoint at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in shares of AvePoint in the 4th quarter worth about $29,000. Versant Capital Management Inc purchased a new position in shares of AvePoint in the 1st quarter worth about $31,000. Point72 Hong Kong Ltd purchased a new position in shares of AvePoint in the 4th quarter worth about $40,000. KBC Group NV bought a new stake in shares of AvePoint in the 1st quarter valued at about $67,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of AvePoint in the 1st quarter valued at about $100,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $18.23, for a total value of $638,050.00. Following the completion of the sale, the insider owned 1,225,443 shares of the company's stock, valued at $22,339,825.89. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff Epstein sold 500,000 shares of the firm's stock in a transaction 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 sale, the director directly owned 1,157,891 shares of the company's stock, valued at $21,733,614.07. The trade was a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 605,000 shares of company stock valued at $11,188,550 in the last ninety days. 26.19% of the stock is currently owned by insiders.
AvePoint Price Performance
AVPT traded up $0.90 during midday trading on Monday, reaching $19.69. 396,671 shares of the company's stock traded hands, compared to its average volume of 1,235,669. The firm has a fifty day moving average of $18.80 and a two-hundred day moving average of $17.20. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -151.14 and a beta of 1.33. AvePoint, Inc. has a 52 week low of $9.38 and a 52 week high of $20.25.
Analyst Ratings Changes
AVPT has been the subject of a number of recent research reports. Scotiabank boosted their target price on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday, May 9th. Jefferies Financial Group initiated coverage on AvePoint in a research note on Monday. They issued a "buy" rating and a $22.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, AvePoint currently has an average rating of "Moderate Buy" and an average price target of $18.17.
Get Our Latest Research Report on AvePoint
AvePoint Profile
(
Free Report)
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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