Petrus Trust Company LTA Acquires 17,945 Shares of AvePoint, Inc. $AVPT

Key Points

• Petrus Trust Company LTA increased its holdings in AvePoint, Inc. by 106.1% in the first quarter, now owning 34,864 shares valued at approximately $503,000.
• The stock has received mixed ratings from analysts, with one rating it as a Strong Buy and others giving it a Moderate Buy average rating, alongside an average target price of $20.80.
• In insider activity, Brian Michael Brown sold 35,000 shares, reducing his stake by 2.94%, with insiders owning 26.19% of the company’s stock overall.

Petrus Trust Company LTA increased its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 106.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,864 shares of the company's stock after acquiring an additional 17,945 shares during the quarter. Petrus Trust Company LTA's holdings in AvePoint were worth $503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in AvePoint by 5.3% during the 1st quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company's stock worth $97,769,000 after acquiring an additional 340,509 shares during the last quarter. Parsifal Capital Management LP bought a new position in AvePoint during the 4th quarter worth approximately $36,419,000. Jennison Associates LLC bought a new position in AvePoint in the first quarter valued at approximately $30,648,000. Millennium Management LLC lifted its stake in AvePoint by 104.3% in the first quarter. Millennium Management LLC now owns 2,058,092 shares of the company's stock valued at $29,719,000 after buying an additional 1,050,500 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in AvePoint by 112.8% in the first quarter. Invesco Ltd. now owns 1,678,190 shares of the company's stock valued at $24,233,000 after buying an additional 889,671 shares in the last quarter. Institutional investors own 44.49% of the company's stock.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the sale, the insider directly owned 1,155,443 shares of the company's stock, valued at approximately $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 105,000 shares of company stock worth $1,835,400 over the last 90 days. Corporate insiders own 26.19% of the company's stock.

Analyst Ratings Changes

AVPT has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price target on the stock. Citigroup cut their price target on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, B. Riley initiated coverage on shares of AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.80.

AvePoint Trading Up 2.5%

Shares of NASDAQ AVPT traded up $0.39 during midday trading on Thursday, reaching $16.14. The company's stock had a trading volume of 1,380,087 shares, compared to its average volume of 1,348,978. AvePoint, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $20.25. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -322.82 and a beta of 1.40. The stock has a 50 day simple moving average of $17.11 and a 200-day simple moving average of $16.81.

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.