Harbor Capital Advisors Inc. Sells 57,090 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Harbor Capital Advisors Inc. reduced its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 47.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,268 shares of the company's stock after selling 57,090 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in AvePoint were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in shares of AvePoint in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new stake in AvePoint in the fourth quarter valued at $29,000. Versant Capital Management Inc bought a new stake in AvePoint in the first quarter valued at $31,000. Point72 Hong Kong Ltd purchased a new position in AvePoint during the 4th quarter valued at $40,000. Finally, Principal Securities Inc. raised its holdings in AvePoint by 12,961.9% in the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock worth $45,000 after purchasing an additional 2,722 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Insider Activity at AvePoint

In related news, Director Jeff Epstein sold 500,000 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 1,157,891 shares in the company, valued at $21,733,614.07. This represents a 30.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.40, for a total value of $539,000.00. Following the transaction, the insider now directly owns 1,347,145 shares of the company's stock, valued at approximately $20,746,033. This trade represents a 2.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 605,000 shares of company stock valued at $11,089,500 in the last three months. Company insiders own 26.19% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on AVPT. The Goldman Sachs Group raised their target price 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. Citigroup lowered their price objective on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. William Blair reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Finally, Scotiabank increased their target price on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

AvePoint Stock Down 0.4%

Shares of NASDAQ:AVPT traded down $0.07 during midday trading on Tuesday, reaching $18.98. The company's stock had a trading volume of 1,945,817 shares, compared to its average volume of 1,243,146. The firm has a 50 day moving average of $17.46 and a 200-day moving average of $17.08. The firm has a market capitalization of $3.86 billion, a P/E ratio of -145.99 and a beta of 1.34. AvePoint, Inc. has a 12-month low of $9.38 and a 12-month high of $20.25.

AvePoint Company 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.