Charles Schwab Investment Management Inc. Boosts Stake in AvePoint, Inc. (NASDAQ:AVPT)

Charles Schwab Investment Management Inc. increased its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 897,584 shares of the company's stock after purchasing an additional 63,323 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.48% of AvePoint worth $10,565,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its stake in shares of AvePoint by 33.7% in the second quarter. Millennium Management LLC now owns 641,862 shares of the company's stock worth $6,688,000 after purchasing an additional 161,759 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in AvePoint during the third quarter valued at $1,404,000. Susquehanna Fundamental Investments LLC bought a new stake in AvePoint during the second quarter valued at $548,000. Lisanti Capital Growth LLC bought a new stake in AvePoint during the third quarter valued at $1,424,000. Finally, Sei Investments Co. bought a new stake in AvePoint during the second quarter valued at $1,503,000. Institutional investors own 44.49% of the company's stock.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded up $0.14 during trading on Tuesday, hitting $18.67. 1,459,096 shares of the company traded hands, compared to its average volume of 1,036,951. The business's fifty day moving average is $14.45 and its 200 day moving average is $11.91. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $19.16. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -373.40 and a beta of 0.99.

Insider Activity

In other news, CFO James Caci sold 20,215 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the company's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the sale, the insider now owns 18,410,673 shares in the company, valued at $215,957,194.29. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,215 shares of company stock worth $1,795,881. Company insiders own 27.78% of the company's stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.20.

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.