Bank of New York Mellon Corp Has $11.17 Million Position in AvePoint, Inc. (NASDAQ:AVPT)

Bank of New York Mellon Corp cut its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 19.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 773,641 shares of the company's stock after selling 181,753 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of AvePoint worth $11,171,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cibc World Markets Corp bought a new position in shares of AvePoint in the fourth quarter worth about $199,000. Intech Investment Management LLC boosted its holdings in shares of AvePoint by 120.8% in the 4th quarter. Intech Investment Management LLC now owns 65,256 shares of the company's stock worth $1,077,000 after purchasing an additional 35,706 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of AvePoint by 390.3% in the 4th quarter. Teacher Retirement System of Texas now owns 152,728 shares of the company's stock worth $2,522,000 after purchasing an additional 121,576 shares during the period. Quantbot Technologies LP boosted its holdings in AvePoint by 32.1% during the 4th quarter. Quantbot Technologies LP now owns 203,076 shares of the company's stock valued at $3,353,000 after acquiring an additional 49,329 shares during the period. Finally, Virtu Financial LLC purchased a new position in AvePoint during the 4th quarter valued at $209,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group initiated coverage on AvePoint in a report on Monday. They issued a "buy" rating and a $22.00 price objective for the company. The Goldman Sachs Group upped their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Finally, Scotiabank raised their target price on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.17.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $18.23, for a total value of $638,050.00. Following the completion of the sale, the insider directly owned 1,225,443 shares in the company, valued at $22,339,825.89. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the firm's stock in a transaction dated 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 $21,733,614.07. This represents a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,000 shares of company stock valued at $10,659,700 in the last quarter. 26.19% of the stock is currently owned by insiders.

AvePoint Trading Down 2.2%

NASDAQ AVPT traded down $0.41 during trading hours on Thursday, reaching $18.50. The company's stock had a trading volume of 1,351,202 shares, compared to its average volume of 1,117,197. AvePoint, Inc. has a 52 week low of $9.38 and a 52 week high of $20.25. The stock has a market cap of $3.76 billion, a PE ratio of -142.30 and a beta of 1.33. The business has a 50-day simple moving average of $18.74 and a 200 day simple moving average of $17.25.

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.