272 Capital LP Invests $1.43 Million in AvePoint, Inc. (NASDAQ:AVPT)

272 Capital LP acquired a new position in 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. The firm acquired 121,187 shares of the company’s stock, valued at approximately $1,426,000. 272 Capital LP owned about 0.06% of AvePoint as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of AvePoint during the third quarter worth $48,226,000. Geode Capital Management LLC raised 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 valued at $33,309,000 after purchasing an additional 133,156 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AvePoint by 13.3% during the 2nd 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 in the last quarter. Driehaus Capital Management LLC bought a new position in AvePoint in the 2nd quarter worth about $17,305,000. Finally, Franklin Resources Inc. grew its holdings in AvePoint by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after buying an additional 27,191 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

AvePoint Price Performance

NASDAQ:AVPT opened at $18.72 on Friday. AvePoint, Inc. has a 52-week low of $7.08 and a 52-week high of $19.16. The stock has a fifty day moving average of $14.87 and a 200 day moving average of $12.07.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report 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 MarketBeat, AvePoint currently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Insider Activity

In related news, CFO James Caci sold 20,215 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total value of $117,300.00. Following the sale, the insider now directly owns 18,410,673 shares of the company’s stock, valued at approximately $215,957,194.29. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,215 shares of company stock worth $1,795,881. 27.78% of the stock is currently owned by insiders.

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.