First Trust Advisors LP Lowers Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

First Trust Advisors LP decreased its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 420,550 shares of the company's stock after selling 40,448 shares during the quarter. First Trust Advisors LP owned approximately 0.23% of AvePoint worth $6,943,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Barclays PLC lifted its position in shares of AvePoint by 358.5% in the third quarter. Barclays PLC now owns 206,358 shares of the company's stock valued at $2,428,000 after buying an additional 161,354 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of AvePoint by 2.3% in the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company's stock valued at $14,815,000 after buying an additional 27,191 shares during the period. 272 Capital LP acquired a new stake in shares of AvePoint during the 3rd quarter worth $1,426,000. JPMorgan Chase & Co. lifted its holdings in shares of AvePoint by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company's stock worth $18,086,000 after acquiring an additional 184,361 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in AvePoint by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company's stock valued at $2,004,000 after acquiring an additional 2,112 shares during the last quarter. Institutional investors own 44.49% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on AVPT. William Blair restated an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup decreased their price target on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank began coverage on shares of AvePoint in a research note on Thursday. They set a "sector outperform" rating and a $19.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.40.

AvePoint Trading Up 0.1 %

Shares of NASDAQ:AVPT traded up $0.02 on Monday, reaching $17.10. 93,098 shares of the company traded hands, compared to its average volume of 1,217,603. AvePoint, Inc. has a 52 week low of $8.06 and a 52 week high of $19.90. The business's 50-day simple moving average is $14.90 and its 200 day simple moving average is $16.19. The stock has a market capitalization of $3.45 billion, a P/E ratio of -341.43 and a beta of 1.20.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total transaction of $528,850.00. Following the transaction, the insider now directly owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. The trade was a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.19% of the stock is currently owned by company insiders.

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.