Corton Capital Inc. Reduces Stock Position in AvePoint, Inc. $AVPT

Corton Capital Inc. trimmed its position in AvePoint, Inc. (NASDAQ:AVPT) by 26.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,762 shares of the company’s stock after selling 4,665 shares during the period. Corton Capital Inc.’s holdings in AvePoint were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC grew its holdings in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after buying an additional 2,263 shares in the last quarter. Quarry LP boosted its position in AvePoint by 2,028.3% during the first quarter. Quarry LP now owns 3,831 shares of the company’s stock worth $55,000 after acquiring an additional 3,651 shares during the last quarter. KBC Group NV purchased a new stake in AvePoint in the 1st quarter worth approximately $67,000. CWM LLC grew its stake in AvePoint by 109.4% in the 1st quarter. CWM LLC now owns 7,328 shares of the company’s stock worth $106,000 after acquiring an additional 3,829 shares during the period. Finally, Covestor Ltd raised its holdings in AvePoint by 3,458.5% in the 1st quarter. Covestor Ltd now owns 8,825 shares of the company’s stock valued at $127,000 after acquiring an additional 8,577 shares during the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Price Performance

NASDAQ AVPT opened at $14.06 on Tuesday. AvePoint, Inc. has a 1-year low of $12.20 and a 1-year high of $20.25. The firm has a market capitalization of $2.98 billion, a P/E ratio of -281.14 and a beta of 1.40. The business’s 50-day simple moving average is $15.24 and its 200-day simple moving average is $16.90.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 500,000 shares of AvePoint stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $7,605,000.00. Following the transaction, the insider directly owned 640,288 shares of the company’s stock, valued at $9,738,780.48. The trade was a 43.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Xunkai Gong sold 2,068,966 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $31,468,972.86. Following the completion of the sale, the chairman directly owned 15,220,668 shares of the company’s stock, valued at $231,506,360.28. The trade was a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,695,780 shares of company stock valued at $86,652,648 over the last quarter. 26.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AVPT. Baird R W upgraded AvePoint to a “hold” rating in a report on Monday, October 27th. B. Riley assumed coverage on AvePoint in a research report on Tuesday, August 26th. They set a “buy” rating and a $25.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of AvePoint in a report on Wednesday, October 8th. Robert W. Baird assumed coverage on shares of AvePoint in a research note on Monday, October 27th. They set a “neutral” rating and a $17.00 price objective for the company. Finally, Jefferies Financial Group started coverage on shares of AvePoint in a research report on Monday, July 21st. They issued a “buy” rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.91.

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.