CoreCap Advisors LLC Reduces Position in AvePoint, Inc. (NASDAQ:AVPT)

CoreCap Advisors LLC trimmed its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 26.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,197 shares of the company's stock after selling 15,557 shares during the period. CoreCap Advisors LLC's holdings in AvePoint were worth $697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in AvePoint by 56.9% in the 4th 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 acquiring an additional 2,276,258 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AvePoint in the 4th quarter worth about $18,067,000. Marshall Wace LLP bought a new stake in shares of AvePoint in the 4th quarter worth about $11,342,000. Finally, Next Century Growth Investors LLC bought a new stake in shares of AvePoint in the 4th quarter worth about $10,044,000. 44.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 1,312,145 shares of the company's stock, valued at $19,826,510.95. This trade represents a 2.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.19% of the stock is currently owned by corporate insiders.

AvePoint Trading Down 0.8%

Shares of NASDAQ AVPT traded down $0.16 during midday trading on Thursday, reaching $19.68. The company had a trading volume of 279,289 shares, compared to its average volume of 1,251,658. The business's 50-day simple moving average is $15.35 and its 200 day simple moving average is $16.48. The stock has a market cap of $3.97 billion, a P/E ratio of -393.52 and a beta of 1.30. AvePoint, Inc. has a 1 year low of $8.44 and a 1 year high of $20.25.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVPT. 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 report on Tuesday, March 11th. The Goldman Sachs Group increased their target price on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday. Scotiabank increased their target price on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday, May 9th. Finally, William Blair reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, AvePoint has a consensus rating of "Moderate Buy" and a consensus target price of $17.40.

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.