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

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 7,670,000 shares, a growth of 17.6% from the January 15th total of 6,520,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is presently 5.5 days. Approximately 7.8% of the company’s shares are short sold.

Insider Activity

In other AvePoint news, CFO James Caci sold 20,215 shares of the company’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 value of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.66, for a total transaction of $156,600.00. Following the sale, the insider now directly owns 18,290,673 shares in the company, valued at approximately $286,431,939.18. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,215 shares of company stock valued at $673,881. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Several hedge funds have recently made changes to their positions in AVPT. Voleon Capital Management LP acquired a new stake in AvePoint in the fourth quarter valued at approximately $367,000. PDT Partners LLC increased its stake in AvePoint by 27.2% in the fourth quarter. PDT Partners LLC now owns 161,892 shares of the company’s stock valued at $2,673,000 after purchasing an additional 34,645 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in AvePoint in the fourth quarter valued at approximately $2,068,000. Northern Trust Corp increased its stake in AvePoint by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,160,554 shares of the company’s stock valued at $19,161,000 after purchasing an additional 99,725 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in AvePoint in the fourth quarter valued at approximately $740,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVPT. The Goldman Sachs Group lifted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Citigroup boosted their target price on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, AvePoint currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

AvePoint Stock Performance

Shares of AVPT traded down $0.36 during trading hours on Friday, hitting $19.44. The stock had a trading volume of 1,539,069 shares, compared to its average volume of 1,051,556. The firm has a 50-day moving average price of $17.92 and a 200 day moving average price of $14.60. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -388.72 and a beta of 1.02. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $19.90.

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.