Sheets Smith Wealth Management Purchases 6,329 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Sheets Smith Wealth Management lifted its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 17.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,481 shares of the company’s stock after buying an additional 6,329 shares during the quarter. Sheets Smith Wealth Management’s holdings in AvePoint were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in AvePoint by 8.0% in the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after buying an additional 1,391 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of AvePoint by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company’s stock valued at $2,004,000 after acquiring an additional 2,112 shares in the last quarter. National Bank of Canada FI bought a new position in AvePoint during the third quarter worth about $29,000. Cerity Partners LLC raised its stake in AvePoint by 6.6% in the 3rd quarter. Cerity Partners LLC now owns 41,499 shares of the company’s stock worth $488,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Creative Planning raised its stake in AvePoint by 19.1% in the 3rd quarter. Creative Planning now owns 29,345 shares of the company’s stock worth $345,000 after purchasing an additional 4,698 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup raised their target price on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Buying and Selling at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $15.77, for a total value of $157,700.00. Following the completion of the transaction, the insider now directly owns 18,310,673 shares in the company, valued at approximately $288,759,313.21. This represents a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Caci sold 20,215 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was 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 $10,133,156.80. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,215 shares of company stock worth $831,581 over the last quarter. Corporate insiders own 27.78% of the company’s stock.

AvePoint Trading Up 0.7 %

Shares of AvePoint stock opened at $17.54 on Thursday. The firm’s 50 day moving average is $17.48 and its 200 day moving average is $13.63. The firm has a market capitalization of $3.28 billion, a PE ratio of -350.73 and a beta of 1.01. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $19.16.

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.