Pinnacle Wealth Management LLC Buys New Holdings in AvePoint, Inc. $AVPT

Key Points

• Pinnacle Wealth Management LLC acquired 42,150 shares of AvePoint, Inc. (NASDAQ: AVPT), valued at approximately $609,000, during the first quarter of the year.
• AvePoint's stock experienced an increase of 2.5%, opening at $15.03, with a market capitalization of $3.19 billion.
• Recent analyst ratings for AvePoint include upgrades to "strong-buy" from Cantor Fitzgerald and a price target increase by Goldman Sachs from $15.00 to $17.00.

Pinnacle Wealth Management LLC bought a new position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,150 shares of the company's stock, valued at approximately $609,000.

Other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of AvePoint in the fourth quarter worth $29,000. Versant Capital Management Inc purchased a new stake in shares of AvePoint in the first quarter worth $31,000. Point72 Hong Kong Ltd purchased a new stake in shares of AvePoint during the fourth quarter valued at $40,000. Summit Securities Group LLC increased its holdings in AvePoint by 621.7% in the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after buying an additional 2,263 shares in the last quarter. Finally, KBC Group NV bought a new position in AvePoint during the 1st quarter valued at about $67,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total transaction of $655,900.00. Following the transaction, the insider directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the transaction, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 570,000 shares of company stock worth $10,678,950. Insiders own 26.19% of the company's stock.

AvePoint Stock Up 4.3%

NASDAQ:AVPT traded up $0.65 on Friday, hitting $15.62. The stock had a trading volume of 1,304,713 shares, compared to its average volume of 1,646,294. The business's 50-day simple moving average is $17.80 and its two-hundred day simple moving average is $17.10. AvePoint, Inc. has a 52-week low of $10.65 and a 52-week high of $20.25. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -312.34 and a beta of 1.35.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of AvePoint in a research note on Monday, July 21st. They set a "buy" rating and a $22.00 target price on the stock. Citigroup lowered their target price 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. The Goldman Sachs Group upped their target price on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Scotiabank upped their target price on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.