Los Angeles Capital Management LLC Invests $988,000 in AvePoint, Inc. (NASDAQ:AVPT)

Los Angeles Capital Management LLC acquired a new position in AvePoint, Inc. (NASDAQ:AVPT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 59,864 shares of the company’s stock, valued at approximately $988,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP purchased a new stake in shares of AvePoint in the third quarter worth approximately $48,226,000. Geode Capital Management LLC increased its position in shares of AvePoint by 4.9% during the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after acquiring an additional 133,156 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock valued at $18,086,000 after acquiring an additional 184,361 shares during the last quarter. Franklin Resources Inc. increased its position in shares of AvePoint by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after acquiring an additional 27,191 shares during the last quarter. Finally, Ashford Capital Management Inc. increased its position in shares of AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after acquiring an additional 99,505 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Price Performance

NASDAQ:AVPT opened at $14.94 on Friday. The business has a fifty day simple moving average of $17.80 and a two-hundred day simple moving average of $15.15. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $19.90. The company has a market capitalization of $2.79 billion, a P/E ratio of -298.74 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVPT. Citigroup increased their price target on AvePoint from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

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.