Moran Wealth Management LLC Boosts Position in AvePoint, Inc. (NASDAQ:AVPT)

Moran Wealth Management LLC raised its position in AvePoint, Inc. (NASDAQ:AVPT) by 35.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,488 shares of the company’s stock after purchasing an additional 12,618 shares during the period. Moran Wealth Management LLC’s holdings in AvePoint were worth $571,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AVPT. Millennium Management LLC grew its stake in AvePoint by 33.7% in the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock valued at $6,688,000 after acquiring an additional 161,759 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in AvePoint during the third quarter worth about $1,404,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of AvePoint in the second quarter valued at about $548,000. Lisanti Capital Growth LLC acquired a new stake in shares of AvePoint in the third quarter valued at approximately $1,424,000. Finally, Sei Investments Co. purchased a new position in shares of AvePoint during the 2nd quarter worth approximately $1,503,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Trading Up 1.5 %

AvePoint stock opened at $18.57 on Friday. The stock has a fifty day moving average price of $13.04 and a 200 day moving average price of $11.14. AvePoint, Inc. has a 52 week low of $7.08 and a 52 week high of $18.75. The firm has a market capitalization of $3.47 billion, a P/E ratio of -371.33 and a beta of 0.88.

Insider Buying and Selling

In other 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 transaction of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 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 $171,200.00. Following the completion of the transaction, the insider now owns 18,270,673 shares in the company, valued at $312,793,921.76. 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 140,215 shares of company stock valued at $1,903,881. Insiders own 27.78% of the company’s stock.

Analysts Set New Price Targets

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