AvePoint, Inc. (NASDAQ:AVPT) is Millrace Asset Group Inc.’s 6th Largest Position

Millrace Asset Group Inc. reduced its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,142 shares of the company’s stock after selling 28,689 shares during the period. AvePoint accounts for 2.4% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 6th biggest holding. Millrace Asset Group Inc. owned 0.11% of AvePoint worth $2,403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. US Bancorp DE raised 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 acquiring an additional 1,391 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of AvePoint by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 41,499 shares of the company’s stock valued at $488,000 after purchasing an additional 2,571 shares in the last quarter. Creative Planning lifted its stake in shares of AvePoint by 19.1% in the 3rd quarter. Creative Planning now owns 29,345 shares of the company’s stock valued at $345,000 after purchasing an additional 4,698 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of AvePoint by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company’s stock valued at $337,000 after purchasing an additional 5,316 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in AvePoint by 8.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock worth $824,000 after purchasing an additional 5,352 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Stock Down 1.9 %

Shares of NASDAQ AVPT opened at $18.22 on Tuesday. AvePoint, Inc. has a 12 month low of $7.08 and a 12 month high of $18.75. The company has a market cap of $3.40 billion, a P/E ratio of -364.33 and a beta of 0.88. The business’s 50 day moving average is $13.16 and its two-hundred day moving average is $11.25.

Insiders Place Their Bets

In other 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 sale, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total value of $117,300.00. Following the completion of the transaction, the insider now directly owns 18,410,673 shares of the company’s stock, valued at approximately $215,957,194.29. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,215 shares of company stock worth $1,795,881. 27.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on AVPT shares. Cantor Fitzgerald increased their price target on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. 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. Finally, Northland Securities boosted their target price on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.20.

AvePoint 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.