AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 21.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,513 shares of the company's stock after selling 57,718 shares during the period. HighTower Advisors LLC owned 0.11% of AvePoint worth $2,443,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint in the 2nd quarter worth approximately $83,000. Algert Global LLC acquired a new stake in shares of AvePoint during the 2nd quarter valued at approximately $116,000. Balboa Wealth Partners acquired a new position in AvePoint in the third quarter worth $125,000. nVerses Capital LLC acquired a new position in AvePoint in the second quarter worth $173,000. Finally, US Bancorp DE increased its stake 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 last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the business'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 completion of the transaction, the chief financial officer now directly owns 591,890 shares of the company's stock, valued at $10,133,156.80. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $171,200.00. Following the completion of the transaction, the insider now owns 18,270,673 shares of the company's stock, valued at approximately $312,793,921.76. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,215 shares of company stock worth $1,795,881. 27.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

AvePoint Price Performance

Shares of NASDAQ AVPT traded down $0.21 during mid-day trading on Friday, hitting $18.37. The company had a trading volume of 1,070,218 shares, compared to its average volume of 1,038,972. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -367.30 and a beta of 1.00. The firm's 50 day simple moving average is $15.00 and its two-hundred day simple moving average is $12.16. AvePoint, Inc. has a 12 month low of $7.08 and a 12 month high of $19.16.

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.