GSA Capital Partners LLP Invests $394,000 in AvePoint, Inc. (NASDAQ:AVPT)

GSA Capital Partners LLP bought a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 33,502 shares of the company’s stock, valued at approximately $394,000.

Other hedge funds have also modified their holdings of the company. Lisanti Capital Growth LLC purchased a new position in AvePoint in the 3rd quarter worth about $1,424,000. Sheets Smith Wealth Management boosted its holdings in shares of AvePoint by 64.8% in the third quarter. Sheets Smith Wealth Management now owns 37,152 shares of the company’s stock worth $437,000 after buying an additional 14,614 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of AvePoint in the third quarter worth about $1,404,000. US Bancorp DE increased its position in shares of AvePoint by 8.0% in the third quarter. US Bancorp DE now owns 18,706 shares of the company’s stock worth $220,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Smith Group Asset Management LLC raised its holdings in shares of AvePoint by 24.9% during the third quarter. Smith Group Asset Management LLC now owns 53,304 shares of the company’s stock valued at $627,000 after acquiring an additional 10,614 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Performance

AvePoint stock opened at $18.28 on Friday. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $18.33. The firm has a market cap of $3.41 billion, a PE ratio of -365.43 and a beta of 0.88. The firm’s 50 day moving average price is $12.90 and its two-hundred day moving average price is $11.07.

Insider Activity

In related news, 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 completion of the sale, the chief financial officer now owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $10.80, for a total transaction of $108,000.00. Following the transaction, the insider now directly owns 18,410,673 shares in the company, valued at approximately $198,835,268.40. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,215 shares of company stock worth $1,903,881 in the last ninety days. Corporate insiders own 27.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVPT shares. The Goldman Sachs Group raised their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Northland Securities increased their target price on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald lifted 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average 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.