Strs Ohio Acquires New Shares in AvePoint, Inc. $AVPT

Key Points

• Strs Ohio has acquired a new stake in AvePoint, Inc., buying 54,500 shares valued at approximately $787,000 in the first quarter.
• Several institutional investors have significantly increased their stakes, with Parsifal Capital Management raising its position by 130.3% to over $73 million.
• AvePoint currently has a consensus rating of "Moderate Buy" from analysts, with a price target averaging $20.80, despite recent cuts to targets by some firms.

Strs Ohio purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 54,500 shares of the company's stock, valued at approximately $787,000.

A number of other hedge funds also recently made changes to their positions in the stock. Intech Investment Management LLC boosted its holdings in shares of AvePoint by 20.2% in the 1st quarter. Intech Investment Management LLC now owns 78,453 shares of the company's stock valued at $1,133,000 after purchasing an additional 13,197 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of AvePoint in the 1st quarter valued at $737,000. Caxton Associates LLP acquired a new position in shares of AvePoint in the 1st quarter valued at $351,000. Goldman Sachs Group Inc. boosted its holdings in shares of AvePoint by 11.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 759,647 shares of the company's stock valued at $10,969,000 after purchasing an additional 76,403 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of AvePoint in the 1st quarter valued at $276,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Insider Transactions at AvePoint

In other AvePoint news, CEO Tianyi Jiang sold 2,068,966 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $31,468,972.86. Following the sale, the chief executive officer directly owned 13,841,853 shares in the company, valued at approximately $210,534,584.13. The trade was a 13.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Michael Brown sold 500,000 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $7,605,000.00. Following the completion of the sale, the insider owned 640,288 shares in the company, valued at approximately $9,738,780.48. This trade represents a 43.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,573,932 shares of company stock valued at $84,912,156 in the last quarter. 26.19% of the stock is owned by company insiders.

Analyst Ratings Changes

AVPT has been the topic of a number of research reports. 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 target price on the stock. Citigroup cut 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. 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 target price on the stock. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, DA Davidson initiated coverage on shares of AvePoint in a research note on Monday. They issued a "buy" rating and a $20.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, AvePoint presently has an average rating of "Moderate Buy" and a consensus target price of $20.67.

AvePoint Stock Performance

Shares of AvePoint stock traded down $0.26 during trading on Tuesday, hitting $15.49. 149,322 shares of the stock were exchanged, compared to its average volume of 1,349,472. The stock's fifty day moving average is $16.65 and its 200 day moving average is $16.83. The stock has a market cap of $3.28 billion, a PE ratio of -308.74 and a beta of 1.40. AvePoint, Inc. has a 12 month low of $11.43 and a 12 month high of $20.25.

AvePoint 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.