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

AvePoint, Inc. (NASDAQ:AVPT) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 6,050,000 shares, an increase of 25.8% from the October 31st total of 4,810,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is presently 5.7 days. Currently, 6.0% of the shares of the stock are short sold.

Insider Activity at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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 owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total transaction of $117,300.00. Following the sale, the insider now directly owns 18,410,673 shares in the company, valued at $215,957,194.29. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,215 shares of company stock worth $1,795,881. Company insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On AvePoint

A number of hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in AvePoint by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after acquiring an additional 27,191 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in AvePoint during the third quarter worth $1,094,000. Ashford Capital Management Inc. boosted its position in AvePoint by 10.0% in the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after purchasing an additional 99,505 shares during the last quarter. Geode Capital Management LLC grew its stake in AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after purchasing an additional 133,156 shares during the period. Finally, Barclays PLC increased its position in shares of AvePoint by 358.5% during the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after purchasing an additional 161,354 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVPT. The Goldman Sachs Group boosted their price objective 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. Cantor Fitzgerald increased their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Northland Securities boosted their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

AvePoint Stock Performance

Shares of AVPT stock remained flat at $17.65 on Monday. 599,574 shares of the stock were exchanged, compared to its average volume of 1,014,691. The firm has a 50 day simple moving average of $13.64 and a 200-day simple moving average of $11.52. The stock has a market capitalization of $3.30 billion, a P/E ratio of -352.80 and a beta of 0.88. AvePoint has a one year low of $7.08 and a one year high of $18.75.

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.