Eagle Asset Management Inc. Decreases Position in AvePoint, Inc. (NASDAQ:AVPT)

Eagle Asset Management Inc. trimmed its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,181,404 shares of the company’s stock after selling 54,770 shares during the period. Eagle Asset Management Inc.’s holdings in AvePoint were worth $13,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Driehaus Capital Management LLC bought a new stake in shares of AvePoint in the 2nd quarter valued at about $17,305,000. Vanguard Group Inc. lifted its position in AvePoint by 3.7% in the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after purchasing an additional 532,371 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of AvePoint by 2,948.0% during the second quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock valued at $5,735,000 after purchasing an additional 532,294 shares during the period. Squarepoint Ops LLC grew its holdings in shares of AvePoint by 198.2% in the second quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock worth $5,415,000 after purchasing an additional 345,370 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of AvePoint in the second quarter worth $2,881,000. 44.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AvePoint news, CFO James Caci sold 20,215 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the sale, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % 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 this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $11.91, for a total transaction of $119,100.00. Following the transaction, the insider now owns 18,430,673 shares of the company’s stock, valued at $219,509,315.43. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,215 shares of company stock worth $1,903,881. Company insiders own 27.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AVPT shares. The Goldman Sachs Group raised their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Northland Securities boosted their price target on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald increased their price objective on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, AvePoint has a consensus rating of “Moderate Buy” and an average target price of $13.20.

AvePoint Price Performance

Shares of NASDAQ AVPT opened at $18.57 on Friday. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $18.75. The stock has a market capitalization of $3.47 billion, a P/E ratio of -371.33 and a beta of 0.88. The company’s 50-day moving average is $13.04 and its 200 day moving average is $11.16.

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.