Hussman Strategic Advisors Inc. Purchases Shares of 105,000 AvePoint, Inc. (NASDAQ:AVPT)

Hussman Strategic Advisors Inc. purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 105,000 shares of the company’s stock, valued at approximately $1,516,000. Hussman Strategic Advisors Inc. owned 0.05% of AvePoint at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of AvePoint by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 918,345 shares of the company’s stock worth $15,162,000 after buying an additional 20,761 shares during the period. Cibc World Markets Corp acquired a new position in shares of AvePoint during the 4th quarter worth approximately $199,000. Intech Investment Management LLC raised its stake in shares of AvePoint by 120.8% during the 4th quarter. Intech Investment Management LLC now owns 65,256 shares of the company’s stock worth $1,077,000 after buying an additional 35,706 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of AvePoint by 43,182.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 15,149 shares of the company’s stock worth $250,000 after buying an additional 15,114 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of AvePoint by 390.3% during the 4th quarter. Teacher Retirement System of Texas now owns 152,728 shares of the company’s stock worth $2,522,000 after buying an additional 121,576 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their target price on AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Scotiabank upped their target price on AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

AvePoint Stock Performance

Shares of AVPT traded up $0.17 during trading hours on Friday, hitting $19.13. 145,791 shares of the stock were exchanged, compared to its average volume of 1,233,377. AvePoint, Inc. has a 12-month low of $9.38 and a 12-month high of $20.25. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -147.53 and a beta of 1.33. The stock’s 50-day moving average price is $18.80 and its two-hundred day moving average price is $17.17.

Insider Activity at AvePoint

In related news, Director Jeff Epstein sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the sale, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 35,000 shares of the company’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $18.23, for a total value of $638,050.00. Following the completion of the sale, the insider owned 1,225,443 shares of the company’s stock, valued at approximately $22,339,825.89. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 605,000 shares of company stock valued at $11,188,550 over the last quarter. 26.19% of the stock is owned by company insiders.

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.