Intech Investment Management LLC Boosts Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Intech Investment Management LLC increased its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 120.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,256 shares of the company's stock after buying an additional 35,706 shares during the period. Intech Investment Management LLC's holdings in AvePoint were worth $1,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in AvePoint during the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in AvePoint during the 4th quarter valued at $29,000. National Bank of Canada FI purchased a new position in shares of AvePoint in the 3rd quarter valued at $29,000. R Squared Ltd bought a new position in shares of AvePoint in the 4th quarter worth $45,000. Finally, Principal Securities Inc. lifted its stake in shares of 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 purchasing an additional 2,722 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AVPT shares. Citigroup cut their target price 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 report on Tuesday, March 4th. Two 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $15.75.

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Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.40, for a total value of $539,000.00. Following the transaction, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. This represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 27.78% of the stock is currently owned by company insiders.

AvePoint Trading Down 1.4 %

Shares of NASDAQ AVPT traded down $0.21 during midday trading on Tuesday, reaching $15.23. The company had a trading volume of 1,197,733 shares, compared to its average volume of 1,148,406. AvePoint, Inc. has a 1 year low of $7.52 and a 1 year high of $19.90. The business's 50-day simple moving average is $17.06 and its 200 day simple moving average is $15.60. The stock has a market cap of $3.07 billion, a P/E ratio of -304.54 and a beta of 1.11.

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.