Parsifal Capital Management LP Takes Position in AvePoint, Inc. (NASDAQ:AVPT)

Parsifal Capital Management LP acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,205,900 shares of the company’s stock, valued at approximately $36,419,000. AvePoint comprises 3.0% of Parsifal Capital Management LP’s holdings, making the stock its 12th biggest position.

Several other hedge funds have also added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in shares of AvePoint during the fourth quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in AvePoint in the fourth quarter valued at $29,000. R Squared Ltd bought a new position in shares of AvePoint during the fourth quarter worth about $45,000. Principal Securities Inc. raised its stake in AvePoint by 12,961.9% during the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock worth $45,000 after buying an additional 2,722 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock valued at $73,000 after buying an additional 1,010 shares during the period. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVPT has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup dropped their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Scotiabank raised their price objective on shares of AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, AvePoint currently has an average rating of “Moderate Buy” and an average price target of $17.40.

Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total transaction of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares in the company, valued at approximately $19,826,510.95. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.19% of the stock is owned by company insiders.

AvePoint Price Performance

AVPT stock opened at $19.99 on Wednesday. The company’s 50-day moving average is $15.24 and its 200-day moving average is $16.46. The stock has a market capitalization of $4.03 billion, a PE ratio of -399.72 and a beta of 1.30. AvePoint, Inc. has a 1 year low of $8.15 and a 1 year high of $20.25.

AvePoint 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.