AvePoint, Inc. (NASDAQ:AVPT) Short Interest Update

AvePoint, Inc. (NASDAQ:AVPT) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 6,180,000 shares, a drop of 21.2% from the December 15th total of 7,840,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 5.3 days. Currently, 6.2% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts have issued reports on AVPT shares. The Goldman Sachs Group raised their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Citigroup lifted their target price on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Insiders Place Their Bets

In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $12.10, for a total transaction of $121,000.00. Following the transaction, the insider now directly owns 18,320,673 shares of the company’s stock, valued at $221,680,143.30. This represents a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,215 shares of company stock valued at $952,581. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVPT. SG Americas Securities LLC grew its position in AvePoint by 31.2% in the fourth quarter. SG Americas Securities LLC now owns 30,060 shares of the company’s stock valued at $496,000 after acquiring an additional 7,141 shares in the last quarter. Sheets Smith Wealth Management increased its stake in AvePoint by 17.0% during the 4th quarter. Sheets Smith Wealth Management now owns 43,481 shares of the company’s stock worth $718,000 after buying an additional 6,329 shares during the period. Empirical Asset Management LLC acquired a new position in AvePoint in the 4th quarter worth $264,000. Harbor Capital Advisors Inc. boosted its position in AvePoint by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company’s stock valued at $2,004,000 after buying an additional 2,112 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock valued at $18,086,000 after acquiring an additional 184,361 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Trading Down 2.0 %

AVPT traded down $0.35 during trading on Friday, hitting $17.21. 924,536 shares of the company’s stock were exchanged, compared to its average volume of 987,821. AvePoint has a 1 year low of $7.08 and a 1 year high of $19.16. The stock has a 50 day moving average price of $17.34 and a 200 day moving average price of $13.41. The firm has a market cap of $3.21 billion, a P/E ratio of -344.13 and a beta of 1.01.

About AvePoint

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.