Scalar Gauge Management LLC Purchases New Position in AvePoint, Inc. (NASDAQ:AVPT)

Scalar Gauge Management LLC acquired a new position in AvePoint, Inc. (NASDAQ:AVPT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 604,776 shares of the company’s stock, valued at approximately $9,985,000. AvePoint comprises approximately 4.6% of Scalar Gauge Management LLC’s holdings, making the stock its 9th biggest holding. Scalar Gauge Management LLC owned about 0.32% of AvePoint at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of AvePoint during the third quarter valued at approximately $48,226,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after acquiring an additional 2,276,258 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of AvePoint in the 4th quarter worth about $18,067,000. Norges Bank bought a new position in AvePoint in the 4th quarter worth about $9,158,000. Finally, Walleye Capital LLC purchased a new stake in AvePoint during the 3rd quarter valued at about $2,970,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Trading Down 1.1 %

Shares of AvePoint stock opened at $14.62 on Monday. The firm has a market cap of $2.95 billion, a PE ratio of -292.34 and a beta of 1.11. The stock has a 50 day moving average of $16.90 and a 200 day moving average of $15.66. AvePoint, Inc. has a 12 month low of $7.52 and a 12 month high of $19.90.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVPT shares. Citigroup lowered their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, AvePoint has a consensus rating of “Moderate Buy” and an average target price of $15.75.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the sale, the insider now owns 1,347,145 shares in the company, valued at $20,746,033. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.19% 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.