Walleye Capital LLC Buys Shares of 252,345 AvePoint, Inc. (NASDAQ:AVPT)

Walleye Capital LLC acquired a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 252,345 shares of the company’s stock, valued at approximately $2,970,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new stake in AvePoint during the second quarter worth $83,000. Algert Global LLC bought a new position in shares of AvePoint in the 2nd quarter worth $116,000. Balboa Wealth Partners bought a new position in shares of AvePoint in the 3rd quarter worth $125,000. nVerses Capital LLC purchased a new stake in shares of AvePoint during the 2nd quarter worth $173,000. Finally, US Bancorp DE boosted its position in AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after purchasing an additional 1,391 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Insider Activity at AvePoint

In related news, CFO James Caci sold 20,215 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 591,890 shares in the company, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.91, for a total value of $119,100.00. Following the sale, the insider now directly owns 18,430,673 shares of the company’s stock, valued at approximately $219,509,315.43. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,215 shares of company stock valued at $1,795,881 in the last three months. 27.78% of the stock is owned by insiders.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $17.91 on Tuesday. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $18.75. The company has a market cap of $3.34 billion, a PE ratio of -358.20 and a beta of 0.88. The business has a 50-day simple moving average of $13.64 and a two-hundred day simple moving average of $11.52.

Analyst Ratings Changes

Several analysts have commented on the stock. Cantor Fitzgerald increased their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Northland Securities boosted their price objective 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. Finally, The Goldman Sachs Group raised 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

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.