Cerity Partners LLC Grows Position in AvePoint, Inc. (NASDAQ:AVPT)

Cerity Partners LLC grew its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 70.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 70,454 shares of the company's stock after buying an additional 29,034 shares during the period. Cerity Partners LLC's holdings in AvePoint were worth $1,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVPT. Heck Capital Advisors LLC acquired a new position in shares of AvePoint in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new position in AvePoint during the 1st quarter valued at about $31,000. Point72 Hong Kong Ltd acquired a new position in AvePoint in the 4th quarter worth about $40,000. KBC Group NV bought a new position in AvePoint during the first quarter valued at about $67,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of AvePoint in the first quarter valued at about $100,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AVPT shares. The Goldman Sachs Group boosted their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Jefferies Financial Group initiated coverage on AvePoint in a report on Monday. They set a "buy" rating and a $22.00 price objective for the company. Finally, Scotiabank upped their price objective 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.17.

AvePoint Stock Down 3.2%

NASDAQ:AVPT opened at $18.65 on Wednesday. The stock has a market capitalization of $3.79 billion, a PE ratio of -143.45 and a beta of 1.33. AvePoint, Inc. has a 52 week low of $9.38 and a 52 week high of $20.25. The stock's 50-day moving average price is $18.80 and its 200-day moving average price is $17.20.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $18.23, for a total transaction of $638,050.00. Following the sale, the insider owned 1,225,443 shares of the company's stock, valued at approximately $22,339,825.89. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Epstein sold 500,000 shares of the stock in a transaction on Monday, June 2nd. The stock was 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 in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,000 shares of company stock valued at $10,659,700 over the last quarter. 26.19% of the stock is currently owned by company 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.

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