Invesco Ltd. Raises Position in AvePoint, Inc. $AVPT

Key Points

• Invesco Ltd. increased its stake in AvePoint, Inc. by 112.8%, owning approximately 1,678,190 shares valued at $24.23 million after purchasing an additional 889,671 shares in the first quarter.
• AvePoint's stock has received mixed ratings from analysts, with Cantor Fitzgerald upgrading it to "strong-buy," while Citigroup and Goldman Sachs have set target prices of $18.00 and $17.00, respectively.
• Insider selling activity has been notable, with Director Jeff Epstein selling 500,000 shares, representing a 30.16% reduction in his position, and insiders selling a total of 605,000 shares last quarter.

Invesco Ltd. grew its stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 112.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,678,190 shares of the company's stock after buying an additional 889,671 shares during the quarter. Invesco Ltd. owned approximately 0.83% of AvePoint worth $24,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. M&T Bank Corp increased its position in AvePoint by 3.0% in the first quarter. M&T Bank Corp now owns 22,058 shares of the company's stock worth $319,000 after buying an additional 634 shares in the last quarter. SG Americas Securities LLC increased its position in AvePoint by 3.1% in the first quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock worth $447,000 after buying an additional 922 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its position in AvePoint by 4.9% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after buying an additional 1,117 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of AvePoint in the fourth quarter worth about $29,000. Finally, Versant Capital Management Inc bought a new position in shares of AvePoint in the first quarter worth about $31,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total transaction of $655,900.00. Following the completion of the transaction, the insider directly owned 1,190,443 shares of the company's stock, valued at approximately $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Epstein sold 500,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the transaction, the director directly owned 1,157,891 shares of the company's stock, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,000 shares of company stock valued at $10,678,950. 26.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective for the company. Citigroup dropped their price objective on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. B. Riley assumed coverage on AvePoint in a research note on Tuesday. They issued a "buy" rating and a $25.00 price objective for the company. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group upped their price objective on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.80.

AvePoint Stock Up 0.5%

AvePoint stock traded up $0.07 during midday trading on Tuesday, reaching $15.36. 1,691,814 shares of the stock traded hands, compared to its average volume of 1,668,483. The stock's fifty day moving average is $17.66 and its 200-day moving average is $17.02. AvePoint, Inc. has a 12 month low of $10.65 and a 12 month high of $20.25. The stock has a market cap of $3.26 billion, a P/E ratio of -307.14 and a beta of 1.35.

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.