Point72 DIFC Ltd Sells 27,378 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Point72 DIFC Ltd lessened its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 89.4% in the third quarter, Holdings Channel reports. The institutional investor owned 3,248 shares of the company’s stock after selling 27,378 shares during the period. Point72 DIFC Ltd’s holdings in AvePoint were worth $38,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of AvePoint by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after acquiring an additional 227,324 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in AvePoint during the 2nd quarter valued at about $17,305,000. Federated Hermes Inc. increased its stake in AvePoint by 3.6% during the 2nd quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after purchasing an additional 32,821 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AvePoint by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock worth $10,565,000 after buying an additional 63,323 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of AvePoint by 16.4% in the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock worth $8,981,000 after buying an additional 121,200 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Insider Transactions at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $171,200.00. Following the transaction, the insider now owns 18,270,673 shares of the company’s stock, valued at approximately $312,793,921.76. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Caci sold 20,215 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was 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 directly owns 591,890 shares in the company, valued at $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,215 shares of company stock worth $1,795,881 over the last three months. 27.78% of the stock is currently owned by company insiders.

AvePoint Stock Performance

Shares of NASDAQ:AVPT opened at $18.53 on Tuesday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -370.53 and a beta of 0.99. The business has a 50-day simple moving average of $14.45 and a two-hundred day simple moving average of $11.91. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $19.16.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised their price target on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AvePoint has an average rating of “Moderate Buy” and an average target price of $13.20.

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.