Legato Capital Management LLC Decreases Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

Legato Capital Management LLC cut its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 110,687 shares of the company’s stock after selling 17,538 shares during the quarter. Legato Capital Management LLC owned about 0.06% of AvePoint worth $1,827,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in AvePoint in the third quarter valued at about $29,000. Heck Capital Advisors LLC purchased a new position in shares of AvePoint in the fourth quarter worth about $29,000. R Squared Ltd purchased a new position in shares of AvePoint in the fourth quarter worth about $45,000. Pacer Advisors Inc. raised its stake in shares of AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Balboa Wealth Partners purchased a new position in shares of AvePoint in the third quarter worth about $125,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AvePoint

In related news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.66, for a total value of $156,600.00. Following the transaction, the insider now owns 18,290,673 shares in the company, valued at approximately $286,431,939.18. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,215 shares of company stock valued at $831,581 over the last ninety days. Insiders own 27.78% of the company’s stock.

AvePoint Stock Down 0.6 %

AvePoint stock opened at $19.49 on Wednesday. AvePoint, Inc. has a 52 week low of $7.08 and a 52 week high of $19.75. The business’s 50-day moving average price is $17.87 and its 200 day moving average price is $14.47. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -389.72 and a beta of 1.02.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVPT. Citigroup raised their price objective on AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised their target price on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

AvePoint 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.