Geode Capital Management LLC Acquires 133,156 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Geode Capital Management LLC lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,829,548 shares of the company’s stock after purchasing an additional 133,156 shares during the period. Geode Capital Management LLC owned 1.52% of AvePoint worth $33,309,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. National Bank of Canada FI acquired a new position in AvePoint in the third quarter valued at approximately $29,000. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint during the 2nd quarter valued at $83,000. Algert Global LLC acquired a new position in shares of AvePoint during the 2nd quarter valued at $116,000. Balboa Wealth Partners acquired a new stake in AvePoint in the third quarter worth $125,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in AvePoint in the third quarter worth $171,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

Insider Transactions at AvePoint

In other AvePoint 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 transaction of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $171,200.00. Following the transaction, the insider now directly owns 18,270,673 shares in the company, valued at $312,793,921.76. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,215 shares of company stock valued at $1,321,081 over the last three months. Corporate insiders own 27.78% 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 stock a “neutral” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

AvePoint Trading Up 1.9 %

AVPT opened at $17.80 on Thursday. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $19.16. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -355.93 and a beta of 1.00. The company’s fifty day moving average price is $15.91 and its two-hundred day moving average price is $12.65.

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.