AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 51.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,850 shares of the company's stock after selling 78,878 shares during the quarter. Teacher Retirement System of Texas' holdings in AvePoint were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVPT. Charles Schwab Investment Management Inc. raised its holdings in AvePoint by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 918,345 shares of the company's stock worth $15,162,000 after purchasing an additional 20,761 shares in the last quarter. Raymond James Financial Inc. bought a new position in AvePoint in the fourth quarter worth about $18,067,000. Cibc World Markets Corp bought a new position in AvePoint in the fourth quarter worth about $199,000. Counterpoint Mutual Funds LLC bought a new position in AvePoint in the fourth quarter worth about $443,000. Finally, Intech Investment Management LLC raised its holdings in AvePoint by 120.8% in the fourth quarter. Intech Investment Management LLC now owns 65,256 shares of the company's stock worth $1,077,000 after purchasing an additional 35,706 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on AVPT shares. Scotiabank boosted 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. The Goldman Sachs Group boosted their target price on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Activity

In related news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $18.23, for a total value of $638,050.00. Following the sale, the insider owned 1,225,443 shares in the company, valued at $22,339,825.89. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the completion of the sale, the director owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 605,000 shares of company stock worth $11,188,550. Corporate insiders own 26.19% of the company's stock.

AvePoint Stock Up 1.1%

Shares of AVPT traded up $0.20 during mid-day trading on Thursday, hitting $18.96. 1,483,886 shares of the company traded hands, compared to its average volume of 1,237,638. AvePoint, Inc. has a 1-year low of $9.38 and a 1-year high of $20.25. The company has a market capitalization of $3.85 billion, a PE ratio of -145.83 and a beta of 1.33. The business has a 50 day moving average of $18.80 and a 200 day moving average of $17.17.

About AvePoint

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.