Millennium Management LLC Acquires 277,038 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Millennium Management LLC lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 37.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,007,592 shares of the company's stock after buying an additional 277,038 shares during the period. Millennium Management LLC owned approximately 0.54% of AvePoint worth $16,635,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its position in AvePoint by 358.5% in the third quarter. Barclays PLC now owns 206,358 shares of the company's stock worth $2,428,000 after purchasing an additional 161,354 shares during the last quarter. Sheets Smith Wealth Management boosted its position in AvePoint by 17.0% in the fourth quarter. Sheets Smith Wealth Management now owns 43,481 shares of the company's stock worth $718,000 after purchasing an additional 6,329 shares during the last quarter. SG Americas Securities LLC boosted its position in AvePoint by 31.2% in the fourth quarter. SG Americas Securities LLC now owns 30,060 shares of the company's stock worth $496,000 after purchasing an additional 7,141 shares during the last quarter. Southland Equity Partners LLC purchased a new position in AvePoint in the fourth quarter worth about $197,000. Finally, Pacer Advisors Inc. boosted its position in AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company's stock worth $73,000 after purchasing an additional 1,010 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the transaction, the insider now directly owns 1,312,145 shares of the company's stock, valued at $19,826,510.95. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.19% of the company's stock.

AvePoint Price Performance

Shares of AVPT stock traded up $0.12 during trading hours on Friday, reaching $18.23. 929,299 shares of the company traded hands, compared to its average volume of 1,244,693. AvePoint, Inc. has a 12-month low of $8.87 and a 12-month high of $20.25. The company has a market cap of $3.68 billion, a P/E ratio of -364.53 and a beta of 1.30. The firm has a 50-day moving average price of $15.99 and a 200 day moving average price of $16.82.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Scotiabank raised 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. Citigroup dropped their target price on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, William Blair reissued an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $17.40.

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.