KLP Kapitalforvaltning AS Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

KLP Kapitalforvaltning AS purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,500 shares of the company's stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AVPT. Global Retirement Partners LLC bought a new stake in AvePoint during the 4th quarter worth about $25,000. National Bank of Canada FI bought a new stake in shares of AvePoint during the third quarter worth approximately $29,000. Heck Capital Advisors LLC bought a new stake in shares of AvePoint during the fourth quarter worth approximately $29,000. R Squared Ltd bought a new position in AvePoint in the fourth quarter valued at approximately $45,000. Finally, Principal Securities Inc. boosted its stake in AvePoint by 12,961.9% in the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock valued at $45,000 after acquiring an additional 2,722 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Stock Performance

NASDAQ AVPT traded down $0.46 during trading hours on Thursday, reaching $14.40. 909,292 shares of the company's stock were exchanged, compared to its average volume of 1,201,410. AvePoint, Inc. has a one year low of $7.62 and a one year high of $19.90. The company's 50-day moving average is $16.04 and its two-hundred day moving average is $15.79. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -287.94 and a beta of 1.20.

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Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value 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. This trade 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 hyperlink. 26.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AVPT. Citigroup cut 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 reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently 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.