AvePoint, Inc. (NASDAQ:AVPT) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its position in AvePoint, Inc. (NASDAQ:AVPT) by 35.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,488 shares of the company’s stock after purchasing an additional 12,618 shares during the quarter. Moran Wealth Management LLC’s holdings in AvePoint were worth $571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of AvePoint by 2.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,012 shares of the company’s stock valued at $3,861,000 after acquiring an additional 8,620 shares during the period. Quest Partners LLC boosted its stake in AvePoint by 74.4% during the 3rd quarter. Quest Partners LLC now owns 72,586 shares of the company’s stock worth $854,000 after purchasing an additional 30,968 shares during the period. Balboa Wealth Partners acquired a new stake in AvePoint during the 3rd quarter worth $125,000. GSA Capital Partners LLP purchased a new position in AvePoint during the 3rd quarter worth $394,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of AvePoint in the third quarter valued at about $1,424,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Insider Activity at AvePoint

In other news, CFO James Caci sold 20,215 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.91, for a total transaction of $119,100.00. Following the completion of the sale, the insider now owns 18,430,673 shares of the company’s stock, valued at $219,509,315.43. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,215 shares of company stock worth $1,903,881 over the last three months. 27.78% of the stock is currently owned by corporate insiders.

AvePoint Trading Up 1.5 %

NASDAQ AVPT opened at $18.57 on Friday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -371.33 and a beta of 0.88. The business’s 50 day moving average is $13.04 and its two-hundred day moving average is $11.14. AvePoint, Inc. has a 12-month low of $7.08 and a 12-month high of $18.75.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVPT. Northland Securities raised their price target on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald lifted their target price on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group upped their price target on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $13.20.

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.