Norges Bank Purchases New Shares in AvePoint, Inc. (NASDAQ:AVPT)

Norges Bank bought a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 554,700 shares of the company's stock, valued at approximately $9,158,000. Norges Bank owned about 0.30% of AvePoint at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new stake in shares of AvePoint during the 4th quarter valued at $25,000. National Bank of Canada FI bought a new stake in AvePoint during the third quarter valued at about $29,000. Heck Capital Advisors LLC purchased a new stake in AvePoint in the fourth quarter worth about $29,000. R Squared Ltd bought a new position in shares of AvePoint in the fourth quarter worth about $45,000. Finally, Principal Securities Inc. lifted its position in shares of AvePoint by 12,961.9% during the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock valued at $45,000 after buying an additional 2,722 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AVPT. William Blair restated an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup decreased their price objective on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.75.

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AvePoint Stock Up 0.9 %

AVPT stock traded up $0.13 during midday trading on Friday, hitting $14.53. The company's stock had a trading volume of 690,799 shares, compared to its average volume of 1,205,288. AvePoint, Inc. has a 12 month low of $7.62 and a 12 month high of $19.90. The company has a 50 day moving average of $15.95 and a two-hundred day moving average of $15.84. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -290.54 and a beta of 1.20.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the sale, the insider now directly owns 1,347,145 shares of the company's stock, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 26.19% of the stock is owned by company insiders.

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.