AvePoint, Inc. $AVPT Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC has significantly increased its stake in AvePoint, Inc. by 71.6%, now owning 277,804 shares valued at approximately $4.01 million.
• Insider Brian Michael Brown sold 35,000 shares of AvePoint stock for around $541,450, reducing his position by 2.94%.
• Analysts have varied price targets for AvePoint, with Goldman Sachs increasing their target to $17.00 and Citigroup lowering theirs to $18.00, while B. Riley initiated coverage with a $25.00 target.

PDT Partners LLC grew its stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 71.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,804 shares of the company's stock after purchasing an additional 115,912 shares during the quarter. PDT Partners LLC owned approximately 0.14% of AvePoint worth $4,011,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp lifted its stake in 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 acquiring an additional 634 shares during the period. State of Wyoming lifted its stake in AvePoint by 3.0% in the first quarter. State of Wyoming now owns 27,128 shares of the company's stock worth $392,000 after acquiring an additional 780 shares during the period. SG Americas Securities LLC lifted its stake in 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. Sheaff Brock Investment Advisors LLC lifted its stake in AvePoint by 4.9% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after acquiring an additional 1,117 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in AvePoint in the fourth quarter worth about $29,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the transaction, the insider owned 1,155,443 shares in the company, valued at $17,874,703.21. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 105,000 shares of company stock worth $1,835,400 in the last 90 days. Corporate insiders own 26.19% of the company's stock.

AvePoint Stock Up 0.9%

Shares of AVPT traded up $0.15 during mid-day trading on Friday, hitting $16.27. 1,017,507 shares of the company traded hands, compared to its average volume of 1,589,594. AvePoint, Inc. has a 1-year low of $11.34 and a 1-year high of $20.25. The company has a market capitalization of $3.45 billion, a PE ratio of -325.33 and a beta of 1.40. The business has a 50 day moving average of $17.25 and a 200 day moving average of $16.86.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVPT. B. Riley began coverage on shares of AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Scotiabank increased their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Citigroup decreased their price target on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, Jefferies Financial Group started coverage on shares of AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

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.