EFG Asset Management North America Corp. Acquires 93,994 Shares of AvePoint, Inc. $AVPT

EFG Asset Management North America Corp. increased its stake in AvePoint, Inc. (NASDAQ:AVPT) by 136.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,066 shares of the company’s stock after purchasing an additional 93,994 shares during the period. EFG Asset Management North America Corp. owned approximately 0.08% of AvePoint worth $3,150,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of AvePoint by 5.3% in the 1st quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company’s stock worth $97,769,000 after buying an additional 340,509 shares during the last quarter. Parsifal Capital Management LP grew its position in AvePoint by 130.3% in the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock worth $73,366,000 after acquiring an additional 2,874,842 shares in the last quarter. Jennison Associates LLC grew its position in AvePoint by 37.0% in the second quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock worth $56,163,000 after acquiring an additional 786,016 shares in the last quarter. Millennium Management LLC increased its stake in AvePoint by 104.3% in the first quarter. Millennium Management LLC now owns 2,058,092 shares of the company’s stock valued at $29,719,000 after acquiring an additional 1,050,500 shares during the last quarter. Finally, Invesco Ltd. raised its position in AvePoint by 112.8% during the first quarter. Invesco Ltd. now owns 1,678,190 shares of the company’s stock valued at $24,233,000 after purchasing an additional 889,671 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVPT shares. Citigroup reduced their price objective on AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, August 18th. Wall Street Zen downgraded shares of AvePoint from a “buy” rating to a “hold” rating in a research note on Saturday. Baird R W raised shares of AvePoint to a “hold” rating in a report on Monday, October 27th. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AvePoint in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.91.

AvePoint Trading Down 1.7%

AVPT stock opened at $13.82 on Wednesday. The firm’s 50-day moving average price is $15.21 and its two-hundred day moving average price is $16.90. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -276.34 and a beta of 1.40. AvePoint, Inc. has a 12-month low of $12.34 and a 12-month high of $20.25.

Insiders Place Their Bets

In related news, Chairman Xunkai Gong sold 4,167 shares of AvePoint stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $15.08, for a total value of $62,838.36. Following the sale, the chairman owned 15,100,668 shares in the company, valued at $227,718,073.44. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Michael Brown sold 1,848 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $15.03, for a total transaction of $27,775.44. Following the completion of the sale, the insider directly owned 631,893 shares of the company’s stock, valued at approximately $9,497,351.79. This represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,695,780 shares of company stock worth $86,652,648. Insiders own 26.19% of the company’s stock.

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.