Voya Investment Management LLC Has $7.55 Million Stock Holdings in AvePoint, Inc. $AVPT

Key Points

• Voya Investment Management LLC increased its stake in AvePoint, Inc. by 16.6%, owning 523,149 shares worth approximately $7.55 million as of the latest quarter.
• Insider activity includes the sale of 35,000 shares by insider Brian Michael Brown for $541,450, resulting in a 2.94% decrease in his ownership of AvePoint stock.
• Wall Street analysts generally maintain a favorable outlook, with a consensus rating of "Moderate Buy" and a price target of approximately $20.80 for AvePoint shares.

Voya Investment Management LLC grew its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 523,149 shares of the company's stock after purchasing an additional 74,617 shares during the period. Voya Investment Management LLC owned approximately 0.26% of AvePoint worth $7,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Heck Capital Advisors LLC acquired a new position in shares of AvePoint in the fourth quarter worth about $29,000. Versant Capital Management Inc acquired a new position in shares of AvePoint in the first quarter worth about $31,000. Summit Securities Group LLC boosted its holdings in shares of AvePoint by 621.7% in the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after buying an additional 2,263 shares during the period. Quarry LP boosted its holdings in shares of AvePoint by 2,028.3% in the first quarter. Quarry LP now owns 3,831 shares of the company's stock worth $55,000 after buying an additional 3,651 shares during the period. Finally, KBC Group NV acquired a new position in shares of AvePoint in the first quarter worth about $67,000. Institutional investors own 44.49% of the company's stock.

Insiders Place Their Bets

In related news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the transaction, the insider owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 105,000 shares of company stock worth $1,835,400 over the last 90 days. 26.19% of the stock is currently owned by company insiders.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded down $0.29 during mid-day trading on Friday, reaching $15.67. The company had a trading volume of 2,378,994 shares, compared to its average volume of 1,305,775. The stock has a fifty day moving average of $16.71 and a two-hundred day moving average of $16.82. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -313.34 and a beta of 1.40. AvePoint, Inc. has a 12-month low of $11.43 and a 12-month high of $20.25.

Analysts Set New Price Targets

Several research analysts have commented on AVPT shares. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Jefferies Financial Group started coverage on shares of AvePoint in a report on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. B. Riley assumed coverage on shares of AvePoint in a report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price for the company. Finally, Citigroup reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.80.

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.