Y Intercept Hong Kong Ltd Takes $206,000 Position in AvePoint, Inc. (NASDAQ:AVPT)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment in AvePoint, Inc. by purchasing 14,279 shares valued at approximately $206,000 during the 1st quarter of 2023.
• Insiders at AvePoint have sold a total of 605,000 shares worth $11.3 million over the last ninety days, highlighting a significant decrease in insider ownership.
• Recent analyst reports reflect optimism, with a majority rating of "buy" or "strong buy", and target prices ranging from $17.00 to $22.00 for AvePoint's stock.

Y Intercept Hong Kong Ltd acquired a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,279 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock worth $106,163,000 after purchasing an additional 2,332,813 shares in the last quarter. Parsifal Capital Management LP acquired a new position in shares of AvePoint in the 4th quarter valued at $36,419,000. Jennison Associates LLC acquired a new position in shares of AvePoint in the 1st quarter valued at $30,648,000. Raymond James Financial Inc. acquired a new position in shares of AvePoint in the 4th quarter valued at $18,067,000. Finally, Gotham Asset Management LLC increased its holdings in shares of AvePoint by 4,694.5% in the 4th quarter. Gotham Asset Management LLC now owns 840,963 shares of the company's stock valued at $13,884,000 after acquiring an additional 823,423 shares during the period. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVPT has been the subject of several analyst reports. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group boosted their target price on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Scotiabank upped their price target on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. Finally, Jefferies Financial Group began coverage on AvePoint in a research note on Monday, July 21st. They set a "buy" rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.17.

AvePoint Price Performance

Shares of AVPT stock traded down $0.66 during trading on Tuesday, reaching $17.73. The company had a trading volume of 356,558 shares, compared to its average volume of 1,302,135. The firm's 50 day simple moving average is $18.75 and its two-hundred day simple moving average is $17.34. AvePoint, Inc. has a one year low of $9.71 and a one year high of $20.25. The company has a market capitalization of $3.60 billion, a PE ratio of -136.49 and a beta of 1.35.

Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business'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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is currently owned by company insiders.

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.