Versor Investments LP Sells 18,100 Shares of AvePoint, Inc. $AVPT

Key Points

• Versor Investments LP reduced its stake in AvePoint, Inc. by 56.9%, selling 18,100 shares and now holding 13,700 shares valued at $198,000.
• Insider Jeff Epstein sold 500,000 shares for approximately $9.39 million, representing a 30.16% decrease in his ownership of the company.
• Wall Street analysts have a consensus rating of "Moderate Buy" for AvePoint, with a price target of $19.75, reflecting varied insights from firms like Jefferies and Goldman Sachs.

Versor Investments LP lessened its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 56.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,700 shares of the company's stock after selling 18,100 shares during the quarter. Versor Investments LP's holdings in AvePoint were worth $198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVPT. Parsifal Capital Management LP bought a new position in AvePoint during the fourth quarter worth about $36,419,000. Jennison Associates LLC purchased a new position in AvePoint in the 1st quarter valued at approximately $30,648,000. Nuveen LLC purchased a new stake in shares of AvePoint during the first quarter worth $14,907,000. Invesco Ltd. boosted its holdings in shares of AvePoint by 112.8% in the first quarter. Invesco Ltd. now owns 1,678,190 shares of the company's stock worth $24,233,000 after acquiring an additional 889,671 shares during the period. Finally, Gotham Asset Management LLC grew its position in shares of AvePoint by 4,694.5% in the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company's stock valued at $13,884,000 after purchasing an additional 823,423 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Price Performance

AVPT traded up $0.07 during trading on Tuesday, hitting $15.36. 1,691,814 shares of the stock traded hands, compared to its average volume of 1,355,388. The firm has a market capitalization of $3.26 billion, a P/E ratio of -307.14 and a beta of 1.35. AvePoint, Inc. has a 12-month low of $10.65 and a 12-month high of $20.25. The firm has a 50-day moving average of $17.73 and a 200 day moving average of $17.04.

Insider Buying and Selling

In other news, Director Jeff Epstein sold 500,000 shares of the business's 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 transaction, the director directly owned 1,157,891 shares of the company's stock, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total value of $655,900.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 570,000 shares of company stock valued at $10,678,950 in the last ninety days. 26.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVPT. The Goldman Sachs Group increased their price objective on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. 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. Jefferies Financial Group initiated coverage on shares of AvePoint in a research report on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective on the stock. Scotiabank lifted their price target on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 9th. Finally, Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.80.

AvePoint Company 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.