Two Sigma Investments LP Raises Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Two Sigma Investments LP boosted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 155.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,192 shares of the company's stock after acquiring an additional 65,852 shares during the period. Two Sigma Investments LP owned 0.06% of AvePoint worth $1,786,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Sherbrooke Park Advisers LLC purchased a new position in AvePoint during the fourth quarter valued at $291,000. Point72 Asset Management L.P. increased its holdings in shares of AvePoint by 263.8% during the fourth quarter. Point72 Asset Management L.P. now owns 123,340 shares of the company's stock valued at $2,036,000 after acquiring an additional 89,440 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of AvePoint in the 4th quarter worth about $40,000. ProShare Advisors LLC raised its position in shares of AvePoint by 37.2% in the 4th quarter. ProShare Advisors LLC now owns 45,409 shares of the company's stock worth $750,000 after purchasing an additional 12,307 shares during the last quarter. Finally, Parsifal Capital Management LP bought a new position in AvePoint in the 4th quarter worth about $36,419,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Up 3.2%

AVPT traded up $0.61 during midday trading on Friday, hitting $19.56. 1,400,273 shares of the company traded hands, compared to its average volume of 1,252,765. The company's 50-day moving average is $16.76 and its 200 day moving average is $17.04. The firm has a market capitalization of $3.98 billion, a PE ratio of -391.12 and a beta of 1.34. AvePoint, Inc. has a 52 week low of $8.93 and a 52 week high of $20.25.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVPT shares. The Goldman Sachs Group raised their price objective 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. William Blair reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup reduced their price target on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank upped their price objective on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AvePoint presently has an average rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Activity at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total transaction of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares of the company's stock, valued at $19,826,510.95. This represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff Epstein sold 500,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the transaction, the director now owns 1,157,891 shares in the company, valued at $21,733,614.07. This trade represents a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 605,000 shares of company stock worth $11,089,500 over the last quarter. Company insiders own 26.19% of the company's stock.

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.