Longboard Asset Management LP Buys Shares of 11,416 AvePoint, Inc. (NASDAQ:AVPT)

Longboard Asset Management LP purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 11,416 shares of the company’s stock, valued at approximately $188,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVPT. National Bank of Canada FI bought a new stake in shares of AvePoint during the third quarter worth about $29,000. Heck Capital Advisors LLC bought a new stake in shares of AvePoint during the fourth quarter worth about $29,000. R Squared Ltd bought a new stake in shares of AvePoint during the fourth quarter worth about $45,000. Pacer Advisors Inc. grew its holdings in shares of AvePoint by 29.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of AvePoint during the second quarter worth about $116,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Price Performance

AvePoint stock opened at $19.12 on Wednesday. The stock’s 50 day moving average is $17.72 and its 200 day moving average is $14.17. The firm has a market cap of $3.57 billion, a P/E ratio of -382.32 and a beta of 1.02. AvePoint, Inc. has a one year low of $7.08 and a one year high of $19.20.

Insider Buying and Selling at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $15.77, for a total value of $157,700.00. Following the transaction, the insider now directly owns 18,310,673 shares of the company’s stock, valued at approximately $288,759,313.21. The trade was a 0.05 % 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, CFO James Caci sold 20,215 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares in the company, 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. Over the last three months, insiders have sold 50,215 shares of company stock valued at $831,581. 27.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Citigroup lifted their price objective on AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.00.

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.