Point72 Asset Management L.P. Acquires 89,440 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Point72 Asset Management L.P. raised its holdings in shares of 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. The fund owned 123,340 shares of the company's stock after purchasing an additional 89,440 shares during the period. Point72 Asset Management L.P. owned approximately 0.07% of AvePoint worth $2,036,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

AVPT has been the topic of several research reports. Scotiabank raised their target price on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Finally, 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of the sale, the insider now directly owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 26.19% of the stock is owned by insiders.

AvePoint Stock Performance

Shares of AVPT stock traded up $0.12 during mid-day trading on Monday, reaching $18.23. 929,299 shares of the company's stock traded hands, compared to its average volume of 1,244,693. The firm has a market capitalization of $3.70 billion, a PE ratio of -364.53 and a beta of 1.30. AvePoint, Inc. has a 12 month low of $8.87 and a 12 month high of $20.25. The firm has a 50 day moving average price of $15.99 and a two-hundred day moving average price of $16.84.

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.