State Street Corp Decreases Stake in AvePoint, Inc. (NASDAQ:AVPT)

State Street Corp reduced its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,026,622 shares of the company's stock after selling 175,246 shares during the quarter. State Street Corp owned about 1.62% of AvePoint worth $35,623,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new stake in shares of AvePoint in the 2nd quarter valued at about $83,000. Algert Global LLC bought a new position in AvePoint in the second quarter worth approximately $116,000. Balboa Wealth Partners acquired a new stake in AvePoint in the third quarter valued at approximately $125,000. nVerses Capital LLC bought a new stake in shares of AvePoint during the second quarter valued at approximately $173,000. Finally, US Bancorp DE raised its position in shares of AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company's stock worth $220,000 after purchasing an additional 1,391 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their price target on shares of AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Two equities research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.20.

AvePoint Price Performance

Shares of AVPT stock traded up $0.15 during trading hours on Friday, reaching $17.89. The company had a trading volume of 1,392,949 shares, compared to its average volume of 1,043,798. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -357.73 and a beta of 1.00. AvePoint, Inc. has a 12 month low of $7.08 and a 12 month high of $19.16. The business has a fifty day simple moving average of $15.59 and a 200-day simple moving average of $12.45.

Insider Buying and Selling at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, October 14th. The stock was sold at an average price of $12.37, for a total transaction of $123,700.00. Following the sale, the insider now directly owns 18,370,673 shares in the company, valued at approximately $227,245,225.01. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Caci sold 20,215 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the sale, the chief financial officer now directly owns 591,890 shares of the company's stock, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,215 shares of company stock worth $1,440,081. Corporate insiders own 27.78% of the company's stock.

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.