JPMorgan Chase & Co. Buys 184,361 Shares of AvePoint, Inc. (NASDAQ:AVPT)

JPMorgan Chase & Co. lifted its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,536,660 shares of the company’s stock after purchasing an additional 184,361 shares during the quarter. JPMorgan Chase & Co. owned 0.82% of AvePoint worth $18,086,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 272 Capital LP purchased a new position in shares of AvePoint during the 3rd quarter valued at $1,426,000. Franklin Resources Inc. boosted its stake in AvePoint by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after buying an additional 27,191 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in AvePoint during the third quarter worth about $1,094,000. Ashford Capital Management Inc. grew its position in AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after buying an additional 99,505 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after acquiring an additional 133,156 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Stock Up 1.2 %

NASDAQ AVPT opened at $16.62 on Friday. The stock’s 50-day simple moving average is $16.93 and its two-hundred day simple moving average is $13.19. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $19.16. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -332.33 and a beta of 1.01.

Insider Activity at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $12.24, for a total transaction of $122,400.00. Following the transaction, the insider now directly owns 18,350,673 shares of the company’s stock, valued at approximately $224,612,237.52. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 20,215 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares in the company, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,215 shares of company stock valued at $1,321,081. Corporate insiders own 27.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their price target on AvePoint from $7.50 to $15.00 and gave the company 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.com, the stock has an average rating of “Moderate Buy” and an average 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.