Wells Fargo & Company MN Has $2.04 Million Stake in AvePoint, Inc. (NASDAQ:AVPT)

Wells Fargo & Company MN lifted its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,506 shares of the company's stock after purchasing an additional 25,027 shares during the quarter. Wells Fargo & Company MN owned 0.07% of AvePoint worth $2,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of AvePoint in the 4th quarter valued at $25,000. Heck Capital Advisors LLC bought a new stake in AvePoint in the fourth quarter valued at about $29,000. R Squared Ltd acquired a new position in AvePoint in the fourth quarter worth about $45,000. Principal Securities Inc. lifted its stake in AvePoint by 12,961.9% during the fourth 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 period. Finally, Pacer Advisors Inc. boosted its holdings in 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 owned by institutional investors.

AvePoint Stock Up 2.0 %

AVPT traded up $0.32 during trading on Thursday, hitting $16.67. The company's stock had a trading volume of 111,946 shares, compared to its average volume of 1,211,517. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -333.31 and a beta of 1.20. The firm's 50 day moving average price is $14.90 and its two-hundred day moving average price is $16.08. AvePoint, Inc. has a 12 month low of $7.77 and a 12 month high of $19.90.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVPT. William Blair reissued an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Scotiabank started coverage on AvePoint in a report on Thursday. They set a "sector outperform" rating and a $19.00 price objective for the company. Finally, Citigroup reduced their target price on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AvePoint has a consensus rating of "Moderate Buy" and a consensus price target of $16.40.

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.