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

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

Analyst Ratings Changes

AVPT has been the subject of several research analyst reports. The Goldman Sachs Group upped their price objective on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Citigroup raised their price objective on shares of AvePoint from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Two 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, AvePoint has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Buying and Selling

In related news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $171,200.00. Following the transaction, the insider now owns 18,270,673 shares in the company, valued at $312,793,921.76. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Caci sold 20,215 shares of the business’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 sale, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,215 shares of company stock valued at $831,581 in the last three months. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVPT. Dimensional Fund Advisors LP grew its position in AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of AvePoint in the second quarter worth $1,503,000. Marshall Wace LLP purchased a new position in shares of AvePoint during the second quarter valued at $2,881,000. AQR Capital Management LLC raised its position in AvePoint by 16.9% during the second quarter. AQR Capital Management LLC now owns 72,723 shares of the company’s stock valued at $758,000 after buying an additional 10,523 shares during the period. Finally, Millennium Management LLC lifted its stake in AvePoint by 33.7% in the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after acquiring an additional 161,759 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Performance

Shares of NASDAQ:AVPT traded up $0.28 during midday trading on Thursday, reaching $18.72. The company had a trading volume of 1,666,202 shares, compared to its average volume of 1,099,011. The company has a fifty day simple moving average of $17.68 and a two-hundred day simple moving average of $13.91. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -374.33 and a beta of 1.01. AvePoint has a 1-year low of $7.08 and a 1-year high of $19.16.

About AvePoint

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.