Monarch Alternative Capital LP trimmed its position in AvePoint, Inc. (NASDAQ:AVPT – Free Report) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,655,597 shares of the company’s stock after selling 970,403 shares during the period. AvePoint accounts for 12.9% of Monarch Alternative Capital LP’s portfolio, making the stock its 3rd biggest position. Monarch Alternative Capital LP’s holdings in AvePoint were worth $28,952,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AVPT. Arizona State Retirement System lifted its holdings in shares of AvePoint by 16.1% during the fourth quarter. Arizona State Retirement System now owns 31,097 shares of the company’s stock valued at $255,000 after purchasing an additional 4,303 shares during the last quarter. Strs Ohio raised its stake in AvePoint by 3.9% during the fourth quarter. Strs Ohio now owns 88,400 shares of the company’s stock valued at $725,000 after buying an additional 3,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AvePoint by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock worth $236,000 after acquiring an additional 4,005 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of AvePoint by 2.2% in the fourth quarter. Federated Hermes Inc. now owns 878,765 shares of the company’s stock worth $7,215,000 after acquiring an additional 18,881 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of AvePoint in the fourth quarter worth $1,260,000. Institutional investors own 44.49% of the company’s stock.
AvePoint Trading Up 0.6 %
AVPT traded up $0.06 during trading on Monday, hitting $10.93. 815,626 shares of the company’s stock traded hands, compared to its average volume of 976,159. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -136.63 and a beta of 0.89. The company’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $8.63. AvePoint, Inc. has a 12-month low of $5.74 and a 12-month high of $11.03.
Analysts Set New Price Targets
Separately, Northland Securities upped their price target on shares of AvePoint from $12.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th.
Read Our Latest Stock Report on AvePoint
Insider Buying and Selling
In related news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total transaction of $157,200.00. Following the completion of the sale, the insider now owns 1,351,240 shares in the company, valued at $10,620,746.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AvePoint news, CFO James Caci sold 40,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $9.04, for a total value of $361,600.00. Following the transaction, the chief financial officer now directly owns 665,097 shares in the company, valued at $6,012,476.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total value of $157,200.00. Following the completion of the sale, the insider now owns 1,351,240 shares of the company’s stock, valued at $10,620,746.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,000 shares of company stock worth $907,200. 27.78% of the stock is owned by insiders.
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.
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