Raymond James Financial Inc. Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

Raymond James Financial Inc. bought a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,094,317 shares of the company's stock, valued at approximately $18,067,000. Raymond James Financial Inc. owned approximately 0.59% of AvePoint as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of AvePoint in the fourth quarter valued at about $25,000. Heck Capital Advisors LLC bought a new stake in shares of AvePoint in the 4th quarter valued at about $29,000. R Squared Ltd purchased a new stake in shares of AvePoint in the 4th quarter worth approximately $45,000. Principal Securities Inc. boosted its stake in shares of AvePoint by 12,961.9% during the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock valued at $45,000 after purchasing an additional 2,722 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of AvePoint by 29.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company's stock valued at $73,000 after purchasing an additional 1,010 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

AvePoint Stock Performance

NASDAQ:AVPT traded up $0.78 during midday trading on Wednesday, reaching $15.10. 1,135,496 shares of the stock traded hands, compared to its average volume of 1,207,377. The stock has a market capitalization of $3.05 billion, a PE ratio of -301.94 and a beta of 1.20. AvePoint, Inc. has a 12-month low of $7.74 and a 12-month high of $19.90. The business has a 50-day moving average of $15.25 and a two-hundred day moving average of $15.95.

Insider Transactions at AvePoint

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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.19% of the company's stock.

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.