Geode Capital Management LLC Raises Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

Geode Capital Management LLC increased its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,850,268 shares of the company's stock after buying an additional 20,720 shares during the period. Geode Capital Management LLC owned about 1.53% of AvePoint worth $47,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.40, for a total transaction of $539,000.00. Following the sale, the insider now owns 1,347,145 shares of the company's stock, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.19% of the company's stock.

AvePoint Price Performance

Shares of NASDAQ:AVPT traded down $0.22 during midday trading on Friday, hitting $14.43. The company had a trading volume of 541,434 shares, compared to its average volume of 1,209,900. The business's 50-day simple moving average is $15.47 and its 200-day simple moving average is $15.91. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -288.54 and a beta of 1.20. AvePoint, Inc. has a twelve month low of $7.65 and a twelve month high of $19.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup lowered their price target on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $15.75.

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.