Eagle Asset Management Inc. Reduces Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Eagle Asset Management Inc. cut its stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,181,404 shares of the company's stock after selling 54,770 shares during the quarter. Eagle Asset Management Inc. owned about 0.63% of AvePoint worth $13,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in AvePoint in the second quarter worth about $83,000. Algert Global LLC purchased a new position in shares of AvePoint in the 2nd quarter valued at approximately $116,000. Balboa Wealth Partners bought a new stake in shares of AvePoint during the third quarter valued at approximately $125,000. Bayesian Capital Management LP purchased a new stake in AvePoint in the first quarter worth $130,000. Finally, SG Americas Securities LLC raised its holdings in AvePoint by 44.2% in the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company's stock worth $132,000 after purchasing an additional 5,125 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AvePoint news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares of the company's stock, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The transaction 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 business's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $10.80, for a total value of $108,000.00. Following the completion of the transaction, the insider now owns 18,410,673 shares of the company's stock, valued at $198,835,268.40. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,215 shares of company stock valued at $1,903,881. Insiders own 27.78% of the company's stock.

Wall Street Analyst Weigh In

AVPT has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of AvePoint from $7.50 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Cantor Fitzgerald raised their target price on shares of AvePoint from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Finally, Northland Securities lifted their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.20.

AvePoint Price Performance

Shares of AvePoint stock opened at $18.57 on Friday. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $18.75. The firm's 50-day moving average is $13.04 and its 200 day moving average is $11.16. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -371.33 and a beta of 0.88.

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.