MIG Capital LLC Buys New Holdings in AvePoint, Inc. (NASDAQ:AVPT)

MIG Capital LLC bought a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,926 shares of the company's stock, valued at approximately $312,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of AvePoint by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock valued at $252,276,000 after acquiring an additional 150,885 shares during the period. Wellington Management Group LLP grew its holdings in AvePoint by 56.9% in the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after purchasing an additional 2,332,813 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AvePoint by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company's stock valued at $47,067,000 after buying an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of AvePoint by 566.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock valued at $44,220,000 after buying an additional 2,276,258 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of AvePoint by 7.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock worth $27,370,000 after buying an additional 121,144 shares during the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction dated 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 directly 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 is accessible through this hyperlink. 26.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVPT. Citigroup dropped their target price on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. William Blair restated an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.75.

AvePoint Trading Up 0.7 %

Shares of NASDAQ AVPT traded up $0.11 during midday trading on Friday, reaching $14.51. 183,123 shares of the stock were exchanged, compared to its average volume of 1,197,413. The stock has a 50 day moving average price of $16.04 and a 200-day moving average price of $15.79. The company has a market capitalization of $2.93 billion, a P/E ratio of -290.34 and a beta of 1.20. AvePoint, Inc. has a 52-week low of $7.62 and a 52-week high of $19.90.

AvePoint 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.