Barclays PLC Boosts Position in AvePoint, Inc. (NASDAQ:AVPT)

Barclays PLC increased its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,341 shares of the company's stock after purchasing an additional 23,983 shares during the quarter. Barclays PLC owned 0.12% of AvePoint worth $3,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVPT. Wellington Management Group LLP increased its position in shares of AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after acquiring an additional 2,332,813 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in AvePoint by 566.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock valued at $44,220,000 after purchasing an additional 2,276,258 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in AvePoint in the fourth quarter valued at approximately $18,067,000. Next Century Growth Investors LLC purchased a new stake in AvePoint in the fourth quarter valued at approximately $10,044,000. Finally, Scalar Gauge Management LLC acquired a new position in AvePoint during the fourth quarter worth $9,985,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.40, for a total transaction of $539,000.00. Following the completion of the sale, the insider now directly owns 1,347,145 shares of the company's stock, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 26.19% of the stock is owned by insiders.

AvePoint Stock Performance

Shares of AVPT traded up $0.48 during midday trading on Friday, hitting $17.08. The company had a trading volume of 765,881 shares, compared to its average volume of 1,222,036. AvePoint, Inc. has a 1 year low of $8.06 and a 1 year high of $19.90. The firm has a market capitalization of $3.45 billion, a P/E ratio of -341.53 and a beta of 1.20. The company's 50-day simple moving average is $14.90 and its 200-day simple moving average is $16.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup dropped 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. William Blair reiterated an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Finally, Scotiabank initiated coverage on shares of AvePoint in a research note on Thursday. They issued a "sector outperform" rating and a $19.00 price objective for the company. Two equities 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 a consensus target price of $16.40.

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.