Alliancebernstein L.P. lessened its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,654 shares of the company's stock after selling 33,451 shares during the period. Alliancebernstein L.P. owned about 0.07% of AvePoint worth $2,025,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in AvePoint by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock valued at $252,276,000 after purchasing an additional 150,885 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of AvePoint by 56.9% in the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after buying an additional 2,332,813 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AvePoint by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company's stock valued at $33,309,000 after buying an additional 133,156 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in AvePoint by 566.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after acquiring an additional 2,276,258 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AvePoint by 7.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock worth $27,370,000 after acquiring an additional 121,144 shares during the period. Institutional investors and hedge funds own 44.49% of the company's stock.
AvePoint Trading Up 2.1 %
AVPT stock traded up $0.29 during midday trading on Tuesday, hitting $14.32. 565,593 shares of the company's stock were exchanged, compared to its average volume of 1,207,665. The firm has a 50 day moving average price of $15.25 and a 200-day moving average price of $15.95. AvePoint, Inc. has a 12-month low of $7.74 and a 12-month high of $19.90. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -286.34 and a beta of 1.20.
Insider Buying and Selling
In related 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 completion of the transaction, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 26.19% of the company's stock.
Analyst Ratings Changes
AVPT has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.75.
View Our Latest Research Report on AvePoint
AvePoint Profile
(
Free Report)
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.
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