Entropy Technologies LP Buys 4,300 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Entropy Technologies LP grew its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 32.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,616 shares of the company’s stock after acquiring an additional 4,300 shares during the period. Entropy Technologies LP’s holdings in AvePoint were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVPT. Wellington Management Group LLP bought a new stake in shares of AvePoint during the third quarter valued at about $48,226,000. Walleye Capital LLC bought a new stake in shares of AvePoint during the third quarter valued at about $2,970,000. JPMorgan Chase & Co. increased its position in shares of AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock valued at $18,086,000 after buying an additional 184,361 shares during the period. Barclays PLC increased its position in shares of AvePoint by 358.5% during the third quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after buying an additional 161,354 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of AvePoint by 4.9% during the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after buying an additional 133,156 shares during the period. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVPT has been the topic of several research analyst reports. The Goldman Sachs Group upped 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 upped their price objective 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

AvePoint Trading Up 2.3 %

AVPT stock opened at $19.80 on Friday. The company’s 50 day moving average is $17.91 and its 200 day moving average is $14.55. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -395.92 and a beta of 1.02. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $19.81.

Insiders Place Their Bets

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 stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.66, for a total value of $156,600.00. Following the completion of the sale, the insider now directly owns 18,290,673 shares of the company’s stock, valued at approximately $286,431,939.18. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,215 shares of company stock valued at $673,881 over the last quarter. 27.78% of the stock is owned by corporate insiders.

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.