Balboa Wealth Partners Invests $125,000 in AvePoint, Inc. (NASDAQ:AVPT)

Balboa Wealth Partners acquired a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,614 shares of the company’s stock, valued at approximately $125,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVPT. Canada Pension Plan Investment Board bought a new position in shares of AvePoint in the 2nd quarter worth $83,000. Algert Global LLC bought a new stake in AvePoint during the second quarter worth about $116,000. Bayesian Capital Management LP bought a new stake in AvePoint during the first quarter worth about $130,000. nVerses Capital LLC purchased a new position in shares of AvePoint in the 2nd quarter worth about $173,000. Finally, SG Americas Securities LLC increased its position in shares of AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after purchasing an additional 5,125 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AvePoint

In other news, CFO James Caci sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the transaction, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at approximately $6,874,216.44. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the sale, the insider now directly owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $1,724,500. Insiders own 27.78% of the company’s stock.

AvePoint Price Performance

Shares of AvePoint stock opened at $15.73 on Friday. AvePoint, Inc. has a one year low of $7.08 and a one year high of $16.50. The business’s 50 day simple moving average is $12.48 and its two-hundred day simple moving average is $10.82. The stock has a market capitalization of $2.94 billion, a P/E ratio of -314.60 and a beta of 0.88.

Analysts Set New Price Targets

AVPT has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Northland Securities boosted their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group increased their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and an average price target 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.