AvePoint, Inc. (NASDAQ:AVPT) Stake Lowered by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC reduced its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,745 shares of the company's stock after selling 46,766 shares during the period. AvePoint accounts for about 1.6% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 7th biggest position. Essex Investment Management Co. LLC owned about 0.29% of AvePoint worth $9,010,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company's stock worth $73,000 after buying an additional 1,010 shares in the last quarter. US Bancorp DE raised its position in AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company's stock valued at $220,000 after purchasing an additional 1,391 shares during the period. Global Retirement Partners LLC purchased a new stake in AvePoint during the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new stake in AvePoint during the fourth quarter valued at approximately $29,000. Finally, Harbor Capital Advisors Inc. raised its position in AvePoint by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company's stock valued at $2,004,000 after purchasing an additional 2,112 shares during the period. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $14.36 on Friday. The business's 50 day moving average price is $17.53 and its 200-day moving average price is $15.29. AvePoint, Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $19.90. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -287.14 and a beta of 1.11.

Wall Street Analyst Weigh In

AVPT has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup upped their price objective on AvePoint from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upped their price objective on AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.25.

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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.

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