Balyasny Asset Management L.P. Buys New Shares in AvePoint, Inc. (NASDAQ:AVPT)

Balyasny Asset Management L.P. bought a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 156,479 shares of the company’s stock, valued at approximately $2,583,000. Balyasny Asset Management L.P. owned approximately 0.08% of AvePoint as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock valued at $252,276,000 after purchasing an additional 150,885 shares in the last quarter. Wellington Management Group LLP lifted its position in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock valued at $106,163,000 after purchasing an additional 2,332,813 shares in the last quarter. Geode Capital Management LLC lifted its position in AvePoint by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock valued at $47,067,000 after purchasing an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after purchasing an additional 2,276,258 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AvePoint by 7.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company’s stock valued at $27,370,000 after purchasing an additional 121,144 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the sale, the insider now directly owns 1,347,145 shares of the company’s stock, valued at approximately $20,746,033. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 26.19% of the company’s stock.

AvePoint Trading Up 8.3%

Shares of AVPT stock opened at $18.85 on Monday. AvePoint, Inc. has a 12-month low of $8.15 and a 12-month high of $19.90. The stock’s 50-day moving average price is $15.06 and its 200-day moving average price is $16.39. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -376.92 and a beta of 1.30.

Wall Street Analyst Weigh In

AVPT has been the topic of several research analyst reports. William Blair restated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Scotiabank boosted their price objective on AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday. Finally, Citigroup lowered their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.