AvePoint, Inc. (NASDAQ:AVPT) Short Interest Down 21.2% in December

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

Insider Buying and Selling

In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $12.24, for a total transaction of $122,400.00. Following the completion of the sale, the insider now owns 18,330,673 shares of the company’s stock, valued at $224,367,437.52. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction dated 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 of the company’s stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,215 shares of company stock worth $1,074,981. Insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in AvePoint during the third quarter worth $48,226,000. Driehaus Capital Management LLC acquired a new stake in shares of AvePoint during the 2nd quarter worth about $17,305,000. Cubist Systematic Strategies LLC raised its holdings in AvePoint by 2,948.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock valued at $5,735,000 after buying an additional 532,294 shares during the period. Squarepoint Ops LLC lifted its position in AvePoint by 198.2% in the second quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock valued at $5,415,000 after buying an additional 345,370 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in AvePoint during the second quarter worth about $2,881,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded down $0.01 during trading on Thursday, hitting $17.59. 292,585 shares of the company were exchanged, compared to its average volume of 949,458. AvePoint has a 12-month low of $7.08 and a 12-month high of $19.16. The company has a fifty day moving average price of $17.26 and a 200-day moving average price of $13.38. The firm has a market capitalization of $3.28 billion, a PE ratio of -351.43 and a beta of 1.01.

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.