AvePoint, Inc. (NASDAQ:AVPT) Sees Large Drop in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 6,720,000 shares, a decline of 14.4% from the February 13th total of 7,850,000 shares. Currently, 6.3% of the shares of the stock are short sold. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is currently 4.5 days.

Institutional Investors Weigh In On AvePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in AvePoint by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock worth $252,276,000 after purchasing an additional 150,885 shares during the period. Wellington Management Group LLP lifted its stake in AvePoint by 56.9% in the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock valued at $106,163,000 after buying an additional 2,332,813 shares in the last quarter. Geode Capital Management LLC lifted its stake in AvePoint by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock valued at $47,067,000 after buying an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in AvePoint by 566.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after purchasing an additional 2,276,258 shares in the last quarter. Finally, Parsifal Capital Management LP purchased a new stake in shares of AvePoint during the 4th quarter valued at approximately $36,419,000. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Stock Down 0.3 %

AvePoint stock opened at $15.07 on Friday. AvePoint has a twelve month low of $7.52 and a twelve month high of $19.90. The business has a fifty day moving average of $17.13 and a two-hundred day moving average of $15.47. The firm has a market cap of $3.04 billion, a P/E ratio of -301.34 and a beta of 1.11.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. William Blair reiterated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup reduced their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.75.

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.