Voya Investment Management LLC Acquires 74,617 Shares of 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 raised its stake 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 & Exchange Commission. The fund owned 523,149 shares of the company's stock after purchasing an additional 74,617 shares during the period. Voya Investment Management LLC owned 0.26% of AvePoint worth $7,554,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVPT. Heck Capital Advisors LLC bought a new position in AvePoint during the 4th quarter worth $29,000. Versant Capital Management Inc bought a new position in shares of AvePoint in the 1st quarter worth about $31,000. Summit Securities Group LLC raised its position in shares of AvePoint by 621.7% in the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after acquiring an additional 2,263 shares in the last quarter. Quarry LP grew its stake in shares of AvePoint by 2,028.3% in the 1st quarter. Quarry LP now owns 3,831 shares of the company's stock valued at $55,000 after buying an additional 3,651 shares during the period. Finally, KBC Group NV acquired a new stake in shares of AvePoint in the 1st quarter valued at about $67,000. 44.49% of the stock is owned by institutional investors.

AvePoint Stock Performance

Shares of AvePoint stock traded down $0.29 during mid-day trading on Friday, hitting $15.67. 2,378,994 shares of the stock were exchanged, compared to its average volume of 1,357,291. The company has a market capitalization of $3.32 billion, a P/E ratio of -313.34 and a beta of 1.40. The company has a 50-day simple moving average of $16.75 and a 200 day simple moving average of $16.79. AvePoint, Inc. has a 12 month low of $11.43 and a 12 month high of $20.25.

Analysts Set New Price Targets

AVPT has been the subject of several research reports. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Jefferies Financial Group initiated coverage on AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. Citigroup reduced their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. Finally, B. Riley initiated coverage on AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price for the company. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.80.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $15.47, for a total value of $541,450.00. Following the sale, the insider owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 105,000 shares of company stock valued at $1,835,400. Insiders own 26.19% of the company's stock.

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.