Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Drops By 21.2%

AvePoint, Inc. (NASDAQ:AVPT) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 6,180,000 shares, a drop of 21.2% from the December 15th total of 7,840,000 shares. Based on an average trading volume of 1,170,000 shares, the days-to-cover ratio is currently 5.3 days. Approximately 6.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AVPT shares. The Goldman Sachs Group raised their price target on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a 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 report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.00.

Insider Buying and Selling at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $15.77, for a total transaction of $157,700.00. Following the completion of the transaction, the insider now owns 18,310,673 shares in the company, valued at approximately $288,759,313.21. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction on Wednesday, November 20th. The shares were 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. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,215 shares of company stock valued at $952,581 over the last ninety days. 27.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AvePoint

Several hedge funds have recently added to or reduced their stakes in AVPT. SG Americas Securities LLC lifted its stake in AvePoint by 31.2% in the fourth quarter. SG Americas Securities LLC now owns 30,060 shares of the company’s stock worth $496,000 after purchasing an additional 7,141 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of AvePoint by 17.0% during the 4th quarter. Sheets Smith Wealth Management now owns 43,481 shares of the company’s stock worth $718,000 after acquiring an additional 6,329 shares during the last quarter. Empirical Asset Management LLC purchased a new position in AvePoint during the 4th quarter valued at $264,000. Harbor Capital Advisors Inc. grew its position in AvePoint by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company’s stock valued at $2,004,000 after acquiring an additional 2,112 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AvePoint by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after purchasing an additional 184,361 shares during the period. 44.49% of the stock is currently owned by institutional investors.

AvePoint Stock Down 2.0 %

AVPT traded down $0.35 during trading on Friday, reaching $17.21. The company had a trading volume of 924,536 shares, compared to its average volume of 1,091,695. AvePoint has a 52 week low of $7.08 and a 52 week high of $19.16. The stock has a market cap of $3.21 billion, a P/E ratio of -344.13 and a beta of 1.01. The business has a 50 day simple moving average of $17.39 and a 200-day simple moving average of $13.46.

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.