Vanguard Group Inc. Sells 751,859 Shares of AvePoint, Inc. $AVPT

Key Points

• Vanguard Group Inc. has reduced its holdings in AvePoint, Inc. by selling 751,859 shares, resulting in a total ownership of 14,528,343 shares, equivalent to 7.20% of the company.
• AvePoint's stock price has seen a decline of 2.0%, with its shares currently opening at $14.90, while recent analyst upgrades set price targets between $17.00 and $22.00.
• Insider selling activity is notable, with Director Jeff Epstein selling 500,000 shares in June, reflecting a 30.16% decrease in his ownership of AvePoint stock.

Vanguard Group Inc. lowered its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,528,343 shares of the company's stock after selling 751,859 shares during the period. Vanguard Group Inc. owned 7.20% of AvePoint worth $209,789,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AVPT. Heck Capital Advisors LLC purchased a new position in AvePoint during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new position in AvePoint during the first quarter valued at approximately $31,000. Point72 Hong Kong Ltd purchased a new position in AvePoint during the fourth quarter valued at approximately $40,000. KBC Group NV purchased a new position in AvePoint during the first quarter valued at approximately $67,000. Finally, Catalyst Capital Advisors LLC purchased a new position in AvePoint during the first quarter valued at approximately $100,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVPT. Jefferies Financial Group began coverage on shares of AvePoint in a research note on Monday, July 21st. They set a "buy" rating and a $22.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Scotiabank lifted their target price 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. Citigroup dropped their target price on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

AvePoint Trading Down 2.1%

Shares of AVPT traded down $0.33 during mid-day trading on Monday, reaching $15.29. The company's stock had a trading volume of 1,035,736 shares, compared to its average volume of 1,667,317. The stock has a market cap of $3.24 billion, a PE ratio of -305.74 and a beta of 1.35. AvePoint, Inc. has a 52 week low of $10.65 and a 52 week high of $20.25. The company's fifty day moving average price is $17.73 and its two-hundred day moving average price is $17.04.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total value of $655,900.00. Following the completion of the sale, the insider directly owned 1,190,443 shares in the company, valued at approximately $22,308,901.82. The trade was a 2.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the sale, the director owned 1,157,891 shares of the company's stock, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 570,000 shares of company stock valued at $10,678,950. Company insiders own 26.19% of the company's stock.

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.