Victory Capital Management Inc. Increases Stake in AvePoint, Inc. (NASDAQ:AVPT)

Victory Capital Management Inc. grew its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 1,421.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,770 shares of the company's stock after acquiring an additional 177,297 shares during the quarter. Victory Capital Management Inc. owned 0.09% of AvePoint worth $2,740,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Heck Capital Advisors LLC acquired a new stake in shares of AvePoint during the fourth quarter worth $29,000. Versant Capital Management Inc acquired a new stake in AvePoint during the first quarter worth approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in AvePoint during the fourth quarter worth approximately $40,000. KBC Group NV acquired a new stake in AvePoint during the first quarter worth approximately $67,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in AvePoint during the first quarter worth approximately $100,000. 44.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVPT has been the topic of a number of research analyst reports. 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 report on Monday, May 12th. Scotiabank lifted their target price on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group assumed coverage on AvePoint in a research report on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AvePoint currently has a consensus rating of "Moderate Buy" and an average price target of $18.17.

AvePoint Trading Down 4.1%

Shares of AVPT stock traded down $0.78 during trading on Friday, hitting $18.30. The company's stock had a trading volume of 376,044 shares, compared to its average volume of 1,305,342. The company has a market cap of $3.72 billion, a PE ratio of -140.67 and a beta of 1.33. The business has a fifty day moving average of $18.76 and a 200-day moving average of $17.33. AvePoint, Inc. has a 52 week low of $9.38 and a 52 week high of $20.25.

Insider Activity at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction 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 transaction, the insider owned 1,190,443 shares of the company's stock, valued at approximately $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the stock in a transaction 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 transaction, the director directly 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 quarter, insiders sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is owned by company insiders.

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.