AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 773,641 shares of the company's stock after selling 181,753 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of AvePoint worth $11,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its position in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock worth $106,163,000 after buying an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership grew its position in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after buying an additional 2,276,258 shares during the period. Parsifal Capital Management LP acquired a new position in AvePoint during the fourth quarter worth about $36,419,000. Raymond James Financial Inc. acquired a new position in AvePoint during the fourth quarter worth about $18,067,000. Finally, Gotham Asset Management LLC grew its position in AvePoint by 4,694.5% during the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company's stock worth $13,884,000 after buying an additional 823,423 shares during the period. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Price Performance

AVPT stock opened at $18.78 on Monday. The company's 50 day simple moving average is $18.80 and its 200-day simple moving average is $17.20. The firm has a market capitalization of $3.82 billion, a PE ratio of -144.45 and a beta of 1.33. AvePoint, Inc. has a 12 month low of $9.38 and a 12 month high of $20.25.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVPT. Scotiabank upped their target price on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their target price 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Activity at AvePoint

In other news, 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 sale, the director directly owned 1,157,891 shares in the company, valued at $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $18.23, for a total transaction of $638,050.00. Following the completion of the sale, the insider 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 disclosure for this sale can be found here. Insiders sold 605,000 shares of company stock worth $11,188,550 over the last quarter. Company insiders own 26.19% of the company's stock.

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.

Want to see what other hedge funds are holding AVPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvePoint, Inc. (NASDAQ:AVPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.