Quantbot Technologies LP Has $64,000 Stock Position 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 stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 97.8% during the first quarter, according to its most recent 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 quarter. Quantbot Technologies LP's holdings in AvePoint were worth $64,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AVPT. Envestnet Asset Management Inc. bought a new position in AvePoint during the 4th quarter valued at $169,000. Mariner LLC bought a new stake in AvePoint during the fourth quarter valued at $183,000. MetLife Investment Management LLC increased its stake in AvePoint by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 77,985 shares of the company's stock valued at $1,288,000 after purchasing an additional 4,102 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in AvePoint by 53.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,473 shares of the company's stock valued at $272,000 after purchasing an additional 5,745 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in AvePoint by 23.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,460 shares of the company's stock valued at $850,000 after purchasing an additional 9,801 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

AvePoint Price Performance

Shares of AVPT traded down $0.12 during trading hours on Tuesday, hitting $16.24. 1,667,419 shares of the company were exchanged, compared to its average volume of 1,358,814. The firm has a fifty day simple moving average of $17.49 and a 200-day simple moving average of $16.91. AvePoint, Inc. has a one year low of $11.33 and a one year high of $20.25. The company has a market capitalization of $3.44 billion, a PE ratio of -324.74 and a beta of 1.40.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Monday, August 25th. The shares were sold at an average price of $15.47, for a total value of $541,450.00. Following the completion of the sale, the insider owned 1,155,443 shares of the company's stock, valued at approximately $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 accessible through this link. In the last quarter, insiders have sold 105,000 shares of company stock worth $1,835,400. Corporate insiders own 26.19% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group raised their target price on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Citigroup cut their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Jefferies Financial Group assumed coverage on AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 target price on the stock. Finally, B. Riley assumed coverage on AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.80.

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.