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

AvePoint, Inc. (NASDAQ:AVPT) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 6,050,000 shares, an increase of 25.8% from the October 31st total of 4,810,000 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is currently 5.7 days.

Insider Activity at AvePoint

In related news, CFO James Caci sold 20,215 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total value of $117,300.00. Following the transaction, the insider now owns 18,410,673 shares in the company, valued at approximately $215,957,194.29. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,215 shares of company stock valued at $1,795,881 over the last 90 days. 27.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of AvePoint by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after purchasing an additional 27,191 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of AvePoint during the 3rd quarter worth about $1,094,000. Ashford Capital Management Inc. raised its holdings in shares of AvePoint by 10.0% in the 3rd quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after purchasing an additional 99,505 shares during the period. Geode Capital Management LLC lifted its stake in AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after purchasing an additional 133,156 shares during the last quarter. Finally, Barclays PLC grew its holdings in AvePoint by 358.5% during the third quarter. Barclays PLC now owns 206,358 shares of the company’s stock worth $2,428,000 after purchasing an additional 161,354 shares during the period. Institutional investors own 44.49% of the company’s stock.

AvePoint Price Performance

AVPT remained flat at $17.65 during trading hours on Monday. The company had a trading volume of 599,574 shares, compared to its average volume of 1,014,691. AvePoint has a 12-month low of $7.08 and a 12-month high of $18.75. The business’s fifty day moving average is $13.64 and its 200-day moving average is $11.52. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -352.80 and a beta of 0.88.

Analyst Ratings Changes

AVPT has been the topic of several analyst reports. Cantor Fitzgerald lifted their price target on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. The Goldman Sachs Group upped their target price on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Northland Securities boosted their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

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.