AvePoint, Inc. (NASDAQ:AVPT) Stock Position Decreased by HighTower Advisors LLC

HighTower Advisors LLC decreased its stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,318 shares of the company's stock after selling 69,195 shares during the quarter. HighTower Advisors LLC owned about 0.07% of AvePoint worth $2,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in AvePoint during the fourth quarter valued at $25,000. National Bank of Canada FI purchased a new stake in shares of AvePoint in the 3rd quarter valued at approximately $29,000. Heck Capital Advisors LLC purchased a new position in shares of AvePoint during the fourth quarter worth $29,000. R Squared Ltd purchased a new position in shares of AvePoint in the fourth quarter valued at approximately $45,000. Finally, Principal Securities Inc. increased its holdings in AvePoint by 12,961.9% during the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock worth $45,000 after purchasing an additional 2,722 shares during the period. Hedge funds and other institutional investors own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVPT shares. William Blair reiterated an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup reduced their price target on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. 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 MarketBeat.com, AvePoint presently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

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AvePoint Trading Down 1.1 %

Shares of AvePoint stock traded down $0.17 during trading hours on Wednesday, reaching $15.06. The stock had a trading volume of 1,150,482 shares, compared to its average volume of 1,148,449. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -301.14 and a beta of 1.11. AvePoint, Inc. has a 1 year low of $7.52 and a 1 year high of $19.90. The firm has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $15.60.

Insider Buying and Selling at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the firm'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 completion of the sale, the insider now owns 1,347,145 shares in the company, valued at $20,746,033. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 27.78% of the stock is currently owned by corporate insiders.

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.