Y Intercept Hong Kong Ltd Makes New $206,000 Investment in AvePoint, Inc. (NASDAQ:AVPT)

Y Intercept Hong Kong Ltd purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,279 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in AvePoint in the 4th quarter worth about $29,000. Versant Capital Management Inc bought a new stake in shares of AvePoint during the first quarter worth about $31,000. Point72 Hong Kong Ltd acquired a new position in shares of AvePoint in the fourth quarter valued at approximately $40,000. KBC Group NV bought a new position in AvePoint in the 1st quarter valued at approximately $67,000. Finally, Catalyst Capital Advisors LLC bought a new position in AvePoint in the 1st quarter valued at approximately $100,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVPT. The Goldman Sachs Group boosted their target price on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Jefferies Financial Group started coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective on the stock. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Scotiabank lifted their target price on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AvePoint presently has an average rating of "Moderate Buy" and a consensus price target of $18.17.

AvePoint Stock Down 1.2%

Shares of NASDAQ AVPT opened at $19.08 on Friday. The company has a market capitalization of $3.88 billion, a PE ratio of -146.76 and a beta of 1.33. The firm has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $17.33. AvePoint, Inc. has a twelve month low of $9.38 and a twelve month high of $20.25.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 1,190,443 shares of the company's stock, valued at approximately $22,308,901.82. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $9,385,000.00. Following the transaction, the director owned 1,157,891 shares in the company, valued at $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 three months, insiders sold 605,000 shares of company stock valued at $11,315,600. Corporate 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.

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