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

Longboard Asset Management LP bought a new stake in AvePoint, Inc. (NASDAQ:AVPT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,416 shares of the company’s stock, valued at approximately $188,000.

Several other hedge funds have also recently added to or reduced their stakes in AVPT. Wellington Management Group LLP acquired a new stake in shares of AvePoint during the third quarter worth about $48,226,000. Geode Capital Management LLC grew its stake in shares of AvePoint by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after acquiring an additional 133,156 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AvePoint by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after acquiring an additional 184,361 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of AvePoint by 2.3% in the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after purchasing an additional 27,191 shares during the last quarter. Finally, Ashford Capital Management Inc. lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Insider Transactions at AvePoint

In related 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 value 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 $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $171,200.00. Following the completion of the transaction, the insider now owns 18,270,673 shares in the company, valued at approximately $312,793,921.76. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,215 shares of company stock valued at $831,581. 27.78% of the stock is currently owned by corporate insiders.

AvePoint Stock Performance

AVPT opened at $19.12 on Wednesday. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $19.20. The company has a market capitalization of $3.57 billion, a P/E ratio of -382.32 and a beta of 1.02. The stock has a fifty day moving average of $17.72 and a 200-day moving average of $14.17.

Analyst Upgrades and Downgrades

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

AvePoint 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.