AvePoint, Inc. (NASDAQ:AVPT) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in AvePoint, Inc. (NASDAQ:AVPT) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,013 shares of the company’s stock after buying an additional 5,352 shares during the period. The Manufacturers Life Insurance Company’s holdings in AvePoint were worth $824,000 as of its most recent SEC filing.

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

AvePoint Price Performance

AVPT opened at $18.57 on Friday. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $19.16. The stock has a market cap of $3.47 billion, a P/E ratio of -371.40 and a beta of 0.99. The stock’s 50 day simple moving average is $14.87 and its 200 day simple moving average is $12.07.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the sale, the insider now directly owns 18,410,673 shares in the company, valued at $215,957,194.29. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,215 shares of company stock valued at $1,795,881 in the last ninety days. Insiders own 27.78% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.20.

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.