AvePoint, Inc. (NASDAQ:AVPT) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 566.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,678,403 shares of the company's stock after acquiring an additional 2,276,258 shares during the period. Arrowstreet Capital Limited Partnership owned 1.43% of AvePoint worth $44,220,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new position in AvePoint during the 3rd quarter worth $348,000. Charles Schwab Investment Management Inc. increased its position in AvePoint by 7.6% in 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 raised 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 last quarter. The Manufacturers Life Insurance Company lifted its position in AvePoint by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock worth $824,000 after acquiring an additional 5,352 shares during the period. Finally, FMR LLC grew its stake in shares of AvePoint by 1,253.0% in the 3rd quarter. FMR LLC now owns 38,275 shares of the company's stock valued at $450,000 after purchasing an additional 35,446 shares during the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup reduced their target price on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, AvePoint has a consensus rating of "Moderate Buy" and a consensus price target of $15.75.

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.40, for a total transaction of $539,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.19% of the company's stock.

AvePoint Stock Down 6.7 %

AVPT stock traded down $0.95 on Friday, reaching $13.33. 1,467,557 shares of the company's stock were exchanged, compared to its average volume of 1,195,287. The stock has a fifty day moving average of $16.57 and a 200-day moving average of $15.75. The firm has a market cap of $2.69 billion, a PE ratio of -266.55 and a beta of 1.20. AvePoint, Inc. has a twelve month low of $7.62 and a twelve month high of $19.90.

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.