Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 38.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,772 shares of the company’s stock after buying an additional 11,919 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AvePoint were worth $618,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Cetera Investment Advisers purchased a new position in AvePoint during the first quarter worth about $556,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of AvePoint during the first quarter worth about $206,000. Allianz Asset Management GmbH acquired a new stake in shares of AvePoint during the first quarter worth about $362,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of AvePoint during the first quarter worth about $1,516,000. Finally, Jennison Associates LLC acquired a new stake in shares of AvePoint during the first quarter worth about $30,648,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Stock Up 1.6%

Shares of NASDAQ:AVPT opened at $17.86 on Thursday. AvePoint, Inc. has a fifty-two week low of $9.71 and a fifty-two week high of $20.25. The firm’s 50 day moving average price is $18.72 and its 200 day moving average price is $17.35. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -137.37 and a beta of 1.35.

Insider Buying and Selling

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the sale, the director owned 1,157,891 shares of the company’s stock, valued at approximately $21,733,614.07. This trade represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total transaction of $655,900.00. Following the sale, the insider directly owned 1,190,443 shares in the company, valued at approximately $22,308,901.82. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVPT shares. The Goldman Sachs Group increased their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a research report on Friday, July 25th. Scotiabank raised their target price on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a report on Friday, May 9th. Finally, Jefferies Financial Group started coverage on shares of AvePoint in a report on Monday, July 21st. They issued a “buy” rating and a $22.00 target price on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.17.

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.