Versant Capital Management Inc Makes New $31,000 Investment in AvePoint, Inc. (NASDAQ:AVPT)

Versant Capital Management Inc purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,172 shares of the company’s stock, valued at approximately $31,000.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in AvePoint during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of AvePoint during the 4th quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new stake in shares of AvePoint during the 4th quarter worth approximately $40,000. Principal Securities Inc. raised its stake in shares of AvePoint by 12,961.9% during the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock worth $45,000 after purchasing an additional 2,722 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of AvePoint by 24.7% during the 4th quarter. Blair William & Co. IL now owns 7,563 shares of the company’s stock worth $125,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Trading Up 3.2%

AVPT opened at $19.56 on Friday. AvePoint, Inc. has a 1-year low of $8.93 and a 1-year high of $20.25. The stock’s fifty day simple moving average is $16.76 and its 200 day simple moving average is $17.04. The stock has a market cap of $3.98 billion, a PE ratio of -391.12 and a beta of 1.34.

Wall Street Analysts Forecast Growth

AVPT has been the topic of a number of analyst reports. Scotiabank upped their price objective on AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 9th. William Blair reiterated an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup dropped their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group upped their price objective on AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the transaction, the insider now owns 1,312,145 shares in the company, valued at $19,826,510.95. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total value of $9,385,000.00. Following the transaction, the director now owns 1,157,891 shares in the company, valued at $21,733,614.07. The trade was a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 605,000 shares of company stock worth $11,089,500. Company insiders own 26.19% of the company’s stock.

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.