AvePoint, Inc. (NASDAQ:AVPT) Short Interest Update

AvePoint, Inc. (NASDAQ:AVPT) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,050,000 shares, an increase of 25.8% from the October 31st total of 4,810,000 shares. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 5.7 days. Currently, 6.0% of the shares of the company are sold short.

Insider Activity

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the transaction, the insider now owns 18,410,673 shares in the company, valued at $215,957,194.29. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Caci sold 20,215 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,215 shares of company stock valued at $1,795,881. 27.78% of the stock is owned by insiders.

Institutional Trading of AvePoint

A number of institutional investors have recently bought and sold shares of AVPT. Franklin Resources Inc. boosted its position in shares of AvePoint by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after purchasing an additional 27,191 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of AvePoint during the third quarter worth $1,094,000. Ashford Capital Management Inc. boosted its position in shares of AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after purchasing an additional 99,505 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $33,309,000 after purchasing an additional 133,156 shares in the last quarter. Finally, Barclays PLC boosted 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 worth $2,428,000 after purchasing an additional 161,354 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Northland Securities raised their price target on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. The Goldman Sachs Group lifted their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald lifted their target price on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.20.

AvePoint Stock Performance

AVPT traded down $0.17 during trading on Friday, reaching $17.65. 666,970 shares of the company’s stock were exchanged, compared to its average volume of 1,016,724. The company’s fifty day moving average price is $13.64 and its 200-day moving average price is $11.48. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $18.75. The firm has a market capitalization of $3.30 billion, a PE ratio of -352.93 and a beta of 0.88.

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.