Entropy Technologies LP Boosts Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Entropy Technologies LP grew its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 32.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,616 shares of the company’s stock after acquiring an additional 4,300 shares during the quarter. Entropy Technologies LP’s holdings in AvePoint were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in AvePoint during the 4th quarter worth $29,000. National Bank of Canada FI purchased a new position in AvePoint during the 3rd quarter worth $29,000. R Squared Ltd purchased a new position in AvePoint during the 4th quarter worth $45,000. Pacer Advisors Inc. boosted its holdings in AvePoint by 29.7% during the 4th quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Balboa Wealth Partners purchased a new position in AvePoint during the 3rd quarter worth $125,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVPT. Citigroup boosted their price target on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Insider Buying and Selling at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the company’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 sale, the insider now directly owns 18,290,673 shares of the company’s stock, valued at $286,431,939.18. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Caci sold 20,215 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the sale, the chief financial officer now directly owns 591,890 shares in the company, valued at approximately $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. Insiders have sold a total of 40,215 shares of company stock valued at $673,881 over the last three months. 27.78% of the stock is currently owned by insiders.

AvePoint Stock Performance

Shares of NASDAQ:AVPT opened at $19.80 on Friday. The company’s 50-day moving average is $17.91 and its 200 day moving average is $14.55. The company has a market capitalization of $3.70 billion, a P/E ratio of -395.92 and a beta of 1.02. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $19.81.

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.