Northern Trust Corp Boosts Stock Holdings in AvePoint, Inc. $AVPT

Key Points

• Northern Trust Corp increased its stake in AvePoint, Inc. by 4.2%, acquiring 48,287 additional shares in the first quarter, bringing its total ownership to 1,208,841 shares valued at approximately $17.46 million.
• AvePoint's stock opened at $16.24 with a market capitalization of $3.44 billion, while analysts have varied opinions, with a consensus rating of Moderate Buy and an average price target of $20.80.
• Insider transactions show Brian Michael Brown selling 35,000 shares at an average price of $15.47, indicating a 2.94% decrease in his total shareholdings.

Northern Trust Corp grew its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,208,841 shares of the company's stock after acquiring an additional 48,287 shares during the quarter. Northern Trust Corp owned about 0.60% of AvePoint worth $17,456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parsifal Capital Management LP purchased a new stake in shares of AvePoint in the fourth quarter valued at $36,419,000. Jennison Associates LLC bought a new position in shares of AvePoint in the first quarter worth about $30,648,000. Invesco Ltd. lifted its holdings in AvePoint by 112.8% during the 1st 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. Raymond James Financial Inc. lifted its holdings in AvePoint by 17.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,287,819 shares of the company's stock valued at $18,596,000 after buying an additional 193,502 shares in the last quarter. Finally, Ashford Capital Management Inc. boosted its position in AvePoint by 1.6% in the 4th quarter. Ashford Capital Management Inc. now owns 1,108,720 shares of the company's stock valued at $18,305,000 after buying an additional 17,490 shares during the period. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Price Performance

AVPT traded up $0.15 during trading on Friday, reaching $16.27. 1,017,507 shares of the company's stock were exchanged, compared to its average volume of 1,589,594. AvePoint, Inc. has a 1 year low of $11.34 and a 1 year high of $20.25. The stock has a market capitalization of $3.45 billion, a P/E ratio of -325.33 and a beta of 1.40. The company's fifty day simple moving average is $17.25 and its 200-day simple moving average is $16.86.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. B. Riley initiated coverage on shares of AvePoint in a report on Tuesday, August 26th. They set a "buy" rating and a $25.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. 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 price objective for the company. Finally, Scotiabank increased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, AvePoint currently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the completion of the transaction, the insider directly owned 1,155,443 shares of the company's stock, valued at $17,874,703.21. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 105,000 shares of company stock worth $1,835,400. 26.19% of the stock is owned by insiders.

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.