AvePoint, Inc. (NASDAQ:AVPT) Short Interest Update

AvePoint, Inc. (NASDAQ:AVPT) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 7,840,000 shares, a growth of 12.5% from the November 30th total of 6,970,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 7.3 days. Currently, 7.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Stock Down 0.2 %

Shares of AVPT stock traded down $0.03 during mid-day trading on Tuesday, reaching $16.45. The company’s stock had a trading volume of 783,916 shares, compared to its average volume of 1,048,010. The company’s 50 day simple moving average is $16.20 and its 200-day simple moving average is $12.84. AvePoint has a 12-month low of $7.08 and a 12-month high of $19.16. The firm has a market capitalization of $3.07 billion, a PE ratio of -328.93 and a beta of 1.00.

Insiders Place Their Bets

In other news, CFO James Caci sold 20,215 shares of the firm’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 transaction of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $12.10, for a total value of $121,000.00. Following the completion of the sale, the insider now directly owns 18,320,673 shares in the company, valued at approximately $221,680,143.30. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,215 shares of company stock worth $1,321,081. 27.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On AvePoint

A number of institutional investors and hedge funds have recently bought and sold shares of AVPT. Wellington Management Group LLP purchased a new position in shares of AvePoint during the 3rd quarter valued at approximately $48,226,000. Geode Capital Management LLC boosted its holdings in AvePoint by 4.9% in the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after purchasing an additional 133,156 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of AvePoint by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares during the period. Driehaus Capital Management LLC bought a new position in AvePoint in the second quarter worth about $17,305,000. Finally, JPMorgan Chase & Co. raised its position 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 purchasing an additional 184,361 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Company 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.