Tidal Investments LLC Reduces Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Tidal Investments LLC lowered its stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 42.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,865 shares of the company's stock after selling 22,969 shares during the period. Tidal Investments LLC's holdings in AvePoint were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AVPT. Barclays PLC increased its stake in shares of AvePoint by 358.5% during the third quarter. Barclays PLC now owns 206,358 shares of the company's stock worth $2,428,000 after purchasing an additional 161,354 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of AvePoint by 31.2% during the fourth quarter. SG Americas Securities LLC now owns 30,060 shares of the company's stock worth $496,000 after purchasing an additional 7,141 shares in the last quarter. Pacer Advisors Inc. increased its stake 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 purchasing an additional 1,010 shares in the last quarter. R Squared Ltd purchased a new stake in shares of AvePoint during the fourth quarter worth about $45,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of AvePoint during the fourth quarter worth about $190,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares of the company's stock, valued at $19,826,510.95. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 105,000 shares of company stock valued at $1,704,500 in the last 90 days. Company insiders own 26.19% of the company's stock.

AvePoint Stock Up 0.9%

Shares of AvePoint stock traded up $0.16 during mid-day trading on Monday, hitting $18.81. The stock had a trading volume of 2,256,576 shares, compared to its average volume of 1,254,703. The firm has a 50-day moving average of $16.40 and a two-hundred day moving average of $16.97. AvePoint, Inc. has a 12-month low of $8.87 and a 12-month high of $20.25. The firm has a market cap of $3.82 billion, a P/E ratio of -376.12 and a beta of 1.30.

Analysts Set New Price Targets

AVPT has been the subject of several research reports. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Scotiabank upped their price objective on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday, May 9th. Finally, Citigroup dropped their price objective on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, AvePoint has an average rating of "Moderate Buy" and a consensus price target of $17.40.

AvePoint 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.