AvePoint, Inc. (NASDAQ:AVPT) Sees Significant Increase in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 7,840,000 shares, an increase of 12.5% from the November 30th total of 6,970,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is currently 7.3 days. Approximately 7.8% of the company’s stock are sold short.

Insider Transactions at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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 owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $12.10, for a total transaction of $121,000.00. Following the sale, the insider now directly owns 18,320,673 shares in the company, valued at approximately $221,680,143.30. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,215 shares of company stock worth $1,321,081. Corporate insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position 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 buying an additional 184,361 shares in the last quarter. 272 Capital LP purchased a new stake in AvePoint in the 3rd quarter worth approximately $1,426,000. Franklin Resources Inc. increased its holdings in AvePoint by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after acquiring an additional 27,191 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in AvePoint during the 3rd quarter worth approximately $1,094,000. Finally, Ashford Capital Management Inc. lifted its holdings in AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after purchasing an additional 99,505 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Price Performance

Shares of AVPT traded up $0.03 on Wednesday, reaching $16.51. The company’s stock had a trading volume of 2,172,030 shares, compared to its average volume of 1,053,641. AvePoint has a 12-month low of $7.08 and a 12-month high of $19.16. The stock has a market capitalization of $3.08 billion, a P/E ratio of -330.13 and a beta of 1.00. The stock’s 50 day simple moving average is $16.29 and its two-hundred day simple moving average is $12.89.

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.