AvePoint, Inc. (NASDAQ:AVPT) Sees Significant Growth in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 7,670,000 shares, an increase of 17.6% from the January 15th total of 6,520,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is presently 5.5 days. Currently, 7.8% of the shares of the company are sold short.

AvePoint Stock Down 1.8 %

NASDAQ:AVPT traded down $0.36 during trading hours on Friday, hitting $19.44. The stock had a trading volume of 1,539,069 shares, compared to its average volume of 1,051,556. The business’s 50 day moving average is $17.92 and its 200-day moving average is $14.63. AvePoint has a one year low of $7.08 and a one year high of $19.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVPT shares. The Goldman Sachs Group raised their price target on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Citigroup increased their price target on AvePoint from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Transactions at AvePoint

In other news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the transaction, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.66, for a total transaction of $156,600.00. Following the completion of the sale, the insider now owns 18,290,673 shares of the company’s stock, valued at $286,431,939.18. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,215 shares of company stock worth $673,881. 27.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvePoint

Large investors have recently made changes to their positions in the stock. Creative Planning increased its holdings in AvePoint by 19.1% during the 3rd quarter. Creative Planning now owns 29,345 shares of the company’s stock worth $345,000 after purchasing an additional 4,698 shares in the last quarter. Consolidated Portfolio Review Corp bought a new stake in shares of AvePoint in the third quarter valued at about $611,000. Smith Group Asset Management LLC lifted its holdings in shares of AvePoint by 24.9% in the third quarter. Smith Group Asset Management LLC now owns 53,304 shares of the company’s stock valued at $627,000 after purchasing an additional 10,614 shares in the last quarter. US Bancorp DE lifted its holdings in shares of AvePoint by 8.0% in the third quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in AvePoint in the 3rd quarter valued at $1,404,000. Institutional investors own 44.49% 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.