Quantbot Technologies LP Cuts Stake in AvePoint, Inc. $AVPT

Key Points

• Quantbot Technologies LP has significantly reduced its holdings in AvePoint, Inc. by 97.8%, now owning just 4,449 shares valued at $64,000.
• Several other hedge funds, including Wellington Management Group and Invesco Ltd., have increased their positions in AvePoint during the first quarter.
• AvePoint recently received mixed analyst ratings, with estimates for its stock price ranging from $18.00 to $25.00 across various firms.

Quantbot Technologies LP trimmed its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 97.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,449 shares of the company's stock after selling 198,627 shares during the period. Quantbot Technologies LP's holdings in AvePoint were worth $64,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Heck Capital Advisors LLC bought a new stake in AvePoint in the fourth quarter valued at about $29,000. Versant Capital Management Inc acquired a new stake in shares of AvePoint in the 1st quarter valued at approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint in the 4th quarter valued at approximately $40,000. Summit Securities Group LLC boosted its stake in AvePoint by 621.7% during the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after acquiring an additional 2,263 shares during the last quarter. Finally, KBC Group NV acquired a new position in AvePoint during the first quarter valued at approximately $67,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have issued reports on AVPT. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Jefferies Financial Group started coverage on shares of AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 target price on the stock. B. Riley assumed coverage on shares of AvePoint in a research report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price objective for the company. Scotiabank boosted 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. Finally, The Goldman Sachs Group upped their target price on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AvePoint currently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

AvePoint Stock Performance

Shares of AVPT stock traded up $0.02 during trading on Thursday, hitting $16.12. The company had a trading volume of 1,144,589 shares, compared to its average volume of 1,680,434. The firm has a market capitalization of $3.42 billion, a P/E ratio of -322.34 and a beta of 1.40. The stock's 50-day moving average price is $17.31 and its 200 day moving average price is $16.88. AvePoint, Inc. has a one year low of $11.34 and a one year 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.