Scalar Gauge Management LLC Purchases Shares of 604,776 AvePoint, Inc. (NASDAQ:AVPT)

Scalar Gauge Management LLC bought a new stake in AvePoint, Inc. (NASDAQ:AVPT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 604,776 shares of the company’s stock, valued at approximately $9,985,000. AvePoint accounts for 4.6% of Scalar Gauge Management LLC’s portfolio, making the stock its 9th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of AvePoint in the third quarter valued at approximately $348,000. Charles Schwab Investment Management Inc. boosted its stake in AvePoint by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock worth $10,565,000 after purchasing an additional 63,323 shares during the last quarter. Cerity Partners LLC raised its position in shares of AvePoint by 6.6% in the third quarter. Cerity Partners LLC now owns 41,499 shares of the company’s stock valued at $488,000 after buying an additional 2,571 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in AvePoint by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock worth $824,000 after acquiring an additional 5,352 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in AvePoint during the 3rd quarter valued at about $899,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVPT. William Blair restated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup reduced their price target on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, AvePoint presently has an average rating of “Moderate Buy” and an average target price of $15.75.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the sale, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. The trade was a 2.53 % 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. 26.19% of the stock is owned by corporate insiders.

AvePoint Price Performance

AvePoint stock opened at $14.62 on Monday. The stock has a market cap of $2.95 billion, a PE ratio of -292.34 and a beta of 1.11. The stock’s fifty day moving average is $16.90 and its two-hundred day moving average is $15.66. AvePoint, Inc. has a 1-year low of $7.52 and a 1-year high of $19.90.

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.