AvePoint, Inc. $AVPT Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in AvePoint, Inc. by 19.1%, leaving it with 331,013 shares valued at approximately $4.78 million.
• Analysts have set new price targets for AvePoint, with Scotiabank increasing theirs from $19.00 to $22.00, indicating a consensus rating of "Moderate Buy."
• Insider selling activity has been significant, with insiders disposing of 570,000 shares valued at $10.68 million over the last 90 days, representing a notable decrease in ownership.

Russell Investments Group Ltd. cut its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 331,013 shares of the company's stock after selling 78,039 shares during the period. Russell Investments Group Ltd. owned 0.16% of AvePoint worth $4,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. M&T Bank Corp increased its position in shares of AvePoint by 3.0% in the 1st quarter. M&T Bank Corp now owns 22,058 shares of the company's stock valued at $319,000 after purchasing an additional 634 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of AvePoint by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock valued at $447,000 after buying an additional 922 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in AvePoint by 4.9% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after purchasing an additional 1,117 shares during the period. Heck Capital Advisors LLC acquired a new stake in AvePoint during the 4th quarter worth $29,000. Finally, Versant Capital Management Inc acquired a new stake in AvePoint during the 1st quarter worth $31,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Trading Up 1.7%

Shares of AVPT traded up $0.26 during trading hours on Tuesday, reaching $15.55. The company had a trading volume of 528,859 shares, compared to its average volume of 1,347,505. The firm has a 50 day simple moving average of $17.73 and a 200-day simple moving average of $17.04. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -310.64 and a beta of 1.35. AvePoint, Inc. has a 12-month low of $10.65 and a 12-month high of $20.25.

Insider Activity

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the sale, the director directly owned 1,157,891 shares of the company's stock, valued at $21,733,614.07. This trade represents a 30.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total transaction of $655,900.00. Following the completion of the sale, the insider directly owned 1,190,443 shares in the company, valued at $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,000 shares of company stock valued at $10,678,950 over the last 90 days. 26.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVPT has been the subject of a number of recent research reports. B. Riley started coverage on shares of AvePoint in a research note on Tuesday. They set a "buy" rating and a $25.00 price target for the company. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Citigroup reduced their target price on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. The Goldman Sachs Group raised 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. Finally, Jefferies Financial Group started coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.80.

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.