Point72 Asset Management L.P. Boosts Stake in AvePoint, Inc. (NASDAQ:AVPT)

Point72 Asset Management L.P. boosted its stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 263.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,340 shares of the company's stock after buying an additional 89,440 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.07% of AvePoint worth $2,036,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in AvePoint in the fourth quarter worth $25,000. Heck Capital Advisors LLC acquired a new position in shares of AvePoint during the 4th quarter worth about $29,000. Point72 Hong Kong Ltd bought a new stake in shares of AvePoint in the 4th quarter valued at about $40,000. Principal Securities Inc. increased its stake in shares of AvePoint by 12,961.9% in the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock valued at $45,000 after acquiring an additional 2,722 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of AvePoint in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Insider Buying and Selling at AvePoint

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

Analyst Ratings Changes

A number of brokerages have recently commented on AVPT. The Goldman Sachs Group upped their price target on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Citigroup lowered their price target on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note 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 note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AvePoint presently has an average rating of "Moderate Buy" and an average target price of $17.40.

AvePoint Stock Up 0.7%

Shares of NASDAQ AVPT traded up $0.12 during trading hours on Friday, hitting $18.23. The company had a trading volume of 929,299 shares, compared to its average volume of 1,243,749. The firm's 50 day moving average is $15.99 and its 200-day moving average is $16.79. AvePoint, Inc. has a 1-year low of $8.87 and a 1-year high of $20.25. The stock has a market capitalization of $3.68 billion, a P/E ratio of -364.53 and a beta of 1.30.

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.