Renaissance Technologies LLC Grows Position in AvePoint, Inc. (NASDAQ:AVPT)

Renaissance Technologies LLC increased its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,151,600 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Renaissance Technologies LLC owned 0.62% of AvePoint worth $19,013,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in AvePoint by 1.0% in the fourth 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 raised its holdings in AvePoint by 56.9% in the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after acquiring an additional 2,332,813 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AvePoint by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company's stock valued at $47,067,000 after acquiring an additional 20,720 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in AvePoint by 566.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock valued at $44,220,000 after purchasing an additional 2,276,258 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in AvePoint by 7.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock worth $27,370,000 after buying an additional 121,144 shares in the last quarter. Institutional investors own 44.49% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVPT shares. Citigroup reduced their target price on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. William Blair reissued an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $15.75.

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 35,000 shares of the company'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 transaction, the insider now directly owns 1,347,145 shares of the company's stock, valued at $20,746,033. This represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 26.19% of the company's stock.

AvePoint Stock Performance

Shares of AVPT stock traded down $0.22 during mid-day trading on Friday, hitting $14.43. The company's stock had a trading volume of 541,434 shares, compared to its average volume of 1,205,603. AvePoint, Inc. has a 52 week low of $7.62 and a 52 week high of $19.90. The company's fifty day simple moving average is $15.57 and its 200-day simple moving average is $15.86. The company has a market cap of $2.91 billion, a PE ratio of -288.54 and a beta of 1.20.

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.