Granahan Investment Management LLC Decreases Stock Holdings in AvePoint, Inc. $AVPT

Key Points

• Granahan Investment Management LLC reduced its stake in AvePoint, Inc. by 19.3%, now holding 110,749 shares valued at approximately $1.60 million.
• Several institutional investors increased their positions in AvePoint during the first quarter, with AQR Capital Management LLC boosting its ownership by 118.5% to own 323,055 shares valued at $4.67 million.
• AvePoint has a current market capitalization of $3.45 billion, with a consensus target price from analysts of $20.80 reflecting a "Moderate Buy" rating.

Granahan Investment Management LLC lessened its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,749 shares of the company's stock after selling 26,557 shares during the period. Granahan Investment Management LLC owned about 0.05% of AvePoint worth $1,599,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Parsifal Capital Management LP bought a new stake in AvePoint during the 4th quarter valued at $36,419,000. Jennison Associates LLC bought a new stake in AvePoint during the first quarter worth approximately $30,648,000. Nuveen LLC acquired a new position in shares of AvePoint in the 1st quarter worth $14,907,000. Invesco Ltd. grew its holdings in shares of AvePoint by 112.8% during the first quarter. Invesco Ltd. now owns 1,678,190 shares of the company's stock valued at $24,233,000 after buying an additional 889,671 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in AvePoint by 4,694.5% in the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company's stock valued at $13,884,000 after purchasing an additional 823,423 shares in the last quarter. Institutional investors own 44.49% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $15.47, for a total value of $541,450.00. Following the transaction, the insider owned 1,155,443 shares in the company, valued at approximately $17,874,703.21. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 105,000 shares of company stock valued at $1,835,400 in the last 90 days. 26.19% of the stock is currently owned by corporate insiders.

AvePoint Trading Up 1.3%

AVPT traded up $0.21 on Thursday, reaching $15.96. The stock had a trading volume of 654,737 shares, compared to its average volume of 1,346,053. The firm has a 50-day moving average of $17.11 and a 200-day moving average of $16.81. AvePoint, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $20.25. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -319.94 and a beta of 1.40.

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.