Acadian Asset Management LLC Reduces Stake in AvePoint, Inc. $AVPT

Key Points

• Acadian Asset Management LLC reduced its stake in AvePoint, Inc. by 48.9%, owning 165,421 shares valued at approximately $2.39 million after selling 158,256 shares.
• AvePoint shares have a current consensus rating of "Moderate Buy", with a target price averaging $20.80, according to various analysts.
• Insider Brian Michael Brown sold 35,000 shares of AvePoint's stock at an average price of $15.47, decreasing his position by 2.94%.

Acadian Asset Management LLC decreased its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 48.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,421 shares of the company's stock after selling 158,256 shares during the quarter. Acadian Asset Management LLC owned 0.08% of AvePoint worth $2,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in shares of AvePoint by 20.2% during the first quarter. Intech Investment Management LLC now owns 78,453 shares of the company's stock worth $1,133,000 after purchasing an additional 13,197 shares during the period. Focus Partners Wealth acquired a new stake in shares of AvePoint during the first quarter worth about $737,000. Caxton Associates LLP acquired a new position in AvePoint in the first quarter valued at approximately $351,000. Goldman Sachs Group Inc. lifted its holdings in AvePoint by 11.2% in the first quarter. Goldman Sachs Group Inc. now owns 759,647 shares of the company's stock valued at $10,969,000 after acquiring an additional 76,403 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in AvePoint in the first quarter valued at approximately $276,000. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Trading Down 1.8%

AVPT traded down $0.29 during mid-day trading on Friday, hitting $15.67. 2,378,994 shares of the stock were exchanged, compared to its average volume of 1,252,099. The firm's fifty day moving average is $16.71 and its two-hundred day moving average is $16.79. AvePoint, Inc. has a 1-year low of $11.43 and a 1-year high of $20.25. The company has a market cap of $3.32 billion, a PE ratio of -313.34 and a beta of 1.40.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on AvePoint in a report on Monday, July 21st. They issued a "buy" rating and a $22.00 price target for the company. B. Riley began coverage on AvePoint in a research note on Tuesday, August 26th. They set a "buy" rating and a $25.00 target price for the company. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Citigroup reduced their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.80.

Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $15.47, for a total transaction of $541,450.00. Following the transaction, the insider owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 105,000 shares of company stock worth $1,835,400. 26.19% of the stock is currently owned by corporate 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.