Federated Hermes Inc. Sells 48,155 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Key Points

• Federated Hermes Inc. reduced its stake in AvePoint, Inc. by 5.0%, now holding approximately 0.45% of the company valued at $13.1 million.
• Institutional investors are actively trading AvePoint, with several funds increasing their stakes, including Principal Financial Group and Two Sigma Investments, highlighting growing confidence in the company's prospects.
• AvePoint's stock has drawn attention with a range of analyst ratings, with a current average price target of $18.17 and several analysts issuing "buy" ratings.

Federated Hermes Inc. lessened its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 906,934 shares of the company's stock after selling 48,155 shares during the period. Federated Hermes Inc. owned approximately 0.45% of AvePoint worth $13,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. purchased a new position in AvePoint in the fourth quarter worth $578,000. KLP Kapitalforvaltning AS bought a new position in shares of AvePoint during the 4th quarter valued at $371,000. LPL Financial LLC grew its holdings in shares of AvePoint by 21.3% during the 4th quarter. LPL Financial LLC now owns 12,777 shares of the company's stock valued at $211,000 after purchasing an additional 2,242 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of AvePoint by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock valued at $252,276,000 after purchasing an additional 150,885 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of AvePoint by 7.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock valued at $27,370,000 after purchasing an additional 121,144 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Price Performance

NASDAQ AVPT traded up $0.22 during trading hours on Wednesday, reaching $17.80. 556,848 shares of the company's stock traded hands, compared to its average volume of 1,302,237. AvePoint, Inc. has a 52-week low of $9.71 and a 52-week high of $20.25. The firm has a market cap of $3.62 billion, a PE ratio of -137.10 and a beta of 1.35. The firm has a 50-day simple moving average of $18.73 and a 200 day simple moving average of $17.35.

Analyst Ratings Changes

Several research firms recently commented on AVPT. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. The Goldman Sachs Group increased their price target on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Scotiabank increased their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group initiated coverage on shares of AvePoint in a research report on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.17.

Insider Activity

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction dated 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 completion of the transaction, the director directly owned 1,157,891 shares of the company's stock, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total transaction of $655,900.00. Following the completion of the sale, the insider owned 1,190,443 shares of the company's stock, valued at $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 605,000 shares of company stock valued at $11,315,600 over the last ninety days. Corporate insiders own 26.19% of the company's stock.

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.