Wells Fargo & Company MN Has $2.04 Million Position in AvePoint, Inc. (NASDAQ:AVPT)

Wells Fargo & Company MN boosted its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,506 shares of the company's stock after purchasing an additional 25,027 shares during the quarter. Wells Fargo & Company MN owned approximately 0.07% of AvePoint worth $2,039,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of AvePoint by 56.9% during the 4th 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 during the last quarter. Arrowstreet Capital Limited Partnership boosted 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 valued at $44,220,000 after purchasing an additional 2,276,258 shares during the period. Raymond James Financial Inc. acquired a new position in AvePoint during the 4th quarter valued at approximately $18,067,000. Scalar Gauge Management LLC bought a new position in AvePoint during the 4th quarter worth $9,985,000. Finally, Norges Bank acquired a new stake in AvePoint in the fourth quarter worth $9,158,000. Institutional investors own 44.49% of the company's stock.

AvePoint Stock Up 2.0 %

Shares of AVPT stock traded up $0.32 during trading hours on Tuesday, reaching $16.44. 725,085 shares of the stock traded hands, compared to its average volume of 1,211,399. The firm has a market capitalization of $3.32 billion, a PE ratio of -328.73 and a beta of 1.20. The business has a fifty day moving average price of $14.96 and a 200 day moving average price of $16.07. AvePoint, Inc. has a 1-year low of $7.77 and a 1-year high of $19.90.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the transaction, the insider now directly owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 26.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. William Blair restated an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup dropped their price objective 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average 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.