38,507 Shares in AvePoint, Inc. $AVPT Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers invested approximately $556,000 in AvePoint, acquiring 38,507 shares in the 1st quarter of the year.
• Analysts have recently set a consensus price target of $19.25 for AvePoint, with ratings ranging from "hold" to "strong buy."
• AvePoint's stock has experienced significant insider transactions, including a sale of 500,000 shares by a director, highlighting active management changes within the company.

Cetera Investment Advisers acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,507 shares of the company's stock, valued at approximately $556,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parsifal Capital Management LP acquired a new stake in AvePoint during the 4th quarter worth about $36,419,000. Jennison Associates LLC acquired a new stake in AvePoint during the 1st quarter worth about $30,648,000. Northern Trust Corp grew its holdings in AvePoint by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,160,554 shares of the company's stock worth $19,161,000 after acquiring an additional 99,725 shares during the period. Ashford Capital Management Inc. grew its holdings in AvePoint by 1.6% during the 4th quarter. Ashford Capital Management Inc. now owns 1,108,720 shares of the company's stock worth $18,305,000 after acquiring an additional 17,490 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in AvePoint during the 4th quarter worth about $18,067,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total value of $655,900.00. Following the sale, the insider owned 1,190,443 shares of the company's stock, valued at approximately $22,308,901.82. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the sale, the director directly owned 1,157,891 shares in the company, valued at $21,733,614.07. This trade represents a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Scotiabank increased their price target on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. Citigroup decreased their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday. Jefferies Financial Group started coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price target for the company. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group increased their price objective 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.75.

AvePoint Trading Up 0.3%

NASDAQ AVPT traded up $0.05 during trading hours on Thursday, hitting $14.97. The company's stock had a trading volume of 711,414 shares, compared to its average volume of 1,678,259. AvePoint, Inc. has a 52 week low of $10.65 and a 52 week high of $20.25. The company has a market capitalization of $3.17 billion, a PE ratio of -299.34 and a beta of 1.35. The company's 50-day simple moving average is $17.86 and its two-hundred day simple moving average is $17.12.

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.