EFG Asset Management North America Corp. Takes $1 Million Position in AvePoint, Inc. $AVPT

Key Points

• EFG Asset Management North America Corp. has invested approximately $1 million in AvePoint, Inc. by acquiring 69,072 shares of its stock.
• Insider Brian Michael Brown sold 35,000 shares at an average price of $15.47, reflecting a 2.94% decrease in his ownership.
• AvePoint has received mixed analyst ratings, with Citigroup lowering its price target to $18.00 while B. Riley set a new target of $25.00.

EFG Asset Management North America Corp. purchased a new position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 69,072 shares of the company's stock, valued at approximately $1,000,000.

Several other institutional investors have also modified their holdings of the business. Envestnet Asset Management Inc. acquired a new stake in AvePoint during the fourth quarter valued at approximately $169,000. Mariner LLC bought a new position in AvePoint during the 4th quarter valued at $183,000. Price T Rowe Associates Inc. MD boosted its stake in AvePoint by 23.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,460 shares of the company's stock valued at $850,000 after purchasing an additional 9,801 shares in the last quarter. Northern Trust Corp lifted its position in shares of AvePoint by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,160,554 shares of the company's stock valued at $19,161,000 after acquiring an additional 99,725 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of AvePoint by 282.9% during the 4th quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock valued at $755,000 after acquiring an additional 33,801 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Stock Performance

Shares of NASDAQ:AVPT traded down $0.67 during midday trading on Wednesday, hitting $15.94. The company's stock had a trading volume of 545,950 shares, compared to its average volume of 1,343,487. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -318.72 and a beta of 1.40. The stock's 50 day simple moving average is $17.16 and its 200 day simple moving average is $16.82. AvePoint, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $20.25.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $15.47, for a total transaction of $541,450.00. Following the sale, the insider directly owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 105,000 shares of company stock worth $1,835,400 over the last 90 days. 26.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVPT. Citigroup reduced their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Jefferies Financial Group initiated coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price target on the stock. B. Riley began coverage on shares of AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.80.

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.