Handelsbanken Fonder AB Buys New Stake in AvePoint, Inc. (NASDAQ:AVPT)

Handelsbanken Fonder AB purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,700 shares of the company's stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in AvePoint in the 4th quarter valued at approximately $25,000. Principal Financial Group Inc. boosted its position in shares of AvePoint by 9.1% during the fourth quarter. Principal Financial Group Inc. now owns 74,048 shares of the company's stock worth $1,223,000 after buying an additional 6,186 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of AvePoint in the fourth quarter valued at $377,000. Principal Securities Inc. raised its holdings in shares of AvePoint by 12,961.9% in the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock valued at $45,000 after buying an additional 2,722 shares during the period. Finally, Rhumbline Advisers lifted its stake in AvePoint by 1.3% during the 4th quarter. Rhumbline Advisers now owns 182,990 shares of the company's stock worth $3,021,000 after acquiring an additional 2,330 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Stock Performance

Shares of AVPT traded down $0.50 during midday trading on Thursday, hitting $14.80. The company had a trading volume of 751,895 shares, compared to its average volume of 1,421,048. AvePoint, Inc. has a 1 year low of $7.44 and a 1 year high of $19.90. The firm has a market capitalization of $2.76 billion, a P/E ratio of -295.48 and a beta of 1.02. The company's 50-day simple moving average is $17.64 and its 200-day simple moving average is $15.24.

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Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AVPT shares. Citigroup boosted their price target on shares of AvePoint from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. 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 note on Tuesday, November 12th. Finally, William Blair reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.25.

About AvePoint

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.