Sheets Smith Investment Management Makes New $1.69 Million Investment in AvePoint, Inc. (NASDAQ:AVPT)

Sheets Smith Investment Management acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 102,310 shares of the company's stock, valued at approximately $1,689,000. AvePoint makes up about 1.4% of Sheets Smith Investment Management's portfolio, making the stock its 18th biggest position. Sheets Smith Investment Management owned 0.05% of AvePoint at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVPT. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AvePoint by 2.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,012 shares of the company's stock worth $3,861,000 after purchasing an additional 8,620 shares during the last quarter. Intech Investment Management LLC purchased a new position in AvePoint in the 3rd quarter worth about $348,000. Charles Schwab Investment Management Inc. lifted its stake in AvePoint by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company's stock valued at $10,565,000 after acquiring an additional 63,323 shares during the period. Cerity Partners LLC lifted its stake in AvePoint by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 41,499 shares of the company's stock valued at $488,000 after acquiring an additional 2,571 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of AvePoint by 1,041.8% during the 3rd quarter. Algert Global LLC now owns 126,817 shares of the company's stock valued at $1,493,000 after acquiring an additional 115,710 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

AvePoint Stock Performance

Shares of AvePoint stock traded down $0.21 on Tuesday, hitting $15.23. 1,197,733 shares of the company's stock were exchanged, compared to its average volume of 1,148,406. The stock has a market capitalization of $3.07 billion, a PE ratio of -304.54 and a beta of 1.11. AvePoint, Inc. has a 1 year low of $7.52 and a 1 year high of $19.90. The company has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $15.60.

Insider Buying and Selling at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total transaction of $539,000.00. Following the completion of the transaction, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 27.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AVPT has been the subject of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup dropped their price target on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.75.

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.