Driehaus Capital Management LLC Lowers Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

Driehaus Capital Management LLC cut its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 45.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,018,405 shares of the company's stock after selling 865,586 shares during the period. Driehaus Capital Management LLC owned 0.55% of AvePoint worth $16,814,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of AvePoint during the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in AvePoint in the 4th quarter valued at $29,000. R Squared Ltd purchased a new position in AvePoint in the 4th quarter valued at $45,000. Principal Securities Inc. boosted its stake in AvePoint by 12,961.9% during the 4th 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 last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of AvePoint by 29.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company's stock worth $73,000 after buying an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Stock Up 0.4%

NASDAQ:AVPT traded up $0.08 during trading hours on Wednesday, reaching $20.07. 937,302 shares of the company's stock were exchanged, compared to its average volume of 1,251,675. The company has a 50-day moving average of $15.24 and a 200 day moving average of $16.46. AvePoint, Inc. has a 1-year low of $8.15 and a 1-year high of $20.25. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -401.32 and a beta of 1.30.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on 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 transaction, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 26.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Scotiabank increased their price objective on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group increased their price target on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday. William Blair reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Finally, Citigroup lowered their price target on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.