HighTower Advisors LLC Reduces Stake in AvePoint, Inc. (NASDAQ:AVPT)

HighTower Advisors LLC lessened its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,318 shares of the company's stock after selling 69,195 shares during the quarter. HighTower Advisors LLC owned approximately 0.07% of AvePoint worth $2,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in AvePoint in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in AvePoint during the fourth quarter valued at approximately $29,000. National Bank of Canada FI bought a new position in shares of AvePoint in the third quarter worth approximately $29,000. R Squared Ltd purchased a new stake in shares of AvePoint in the fourth quarter worth $45,000. Finally, Principal Securities Inc. raised 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 purchasing an additional 2,722 shares during the period. Institutional investors own 44.49% of the company's stock.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were 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 of the company's stock, 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 SEC, which can be accessed through this hyperlink. 27.78% of the stock is owned by company insiders.

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AvePoint Stock Down 1.4 %

AVPT stock traded down $0.21 during mid-day trading on Tuesday, hitting $15.23. The company had a trading volume of 1,197,733 shares, compared to its average volume of 1,148,406. The company has a 50-day moving average price of $17.06 and a 200 day moving average price of $15.60. AvePoint, Inc. has a 12-month low of $7.52 and a 12-month high of $19.90. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -304.54 and a beta of 1.11.

Analyst Upgrades and Downgrades

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

AvePoint 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.