Granahan Investment Management LLC Trims Position in AvePoint, Inc. (NASDAQ:AVPT)

Granahan Investment Management LLC decreased its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,306 shares of the company's stock after selling 35,705 shares during the quarter. Granahan Investment Management LLC owned 0.07% of AvePoint worth $2,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. lifted its holdings in shares of AvePoint by 96.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 610,729 shares of the company's stock valued at $10,083,000 after purchasing an additional 299,866 shares in the last quarter. Corton Capital Inc. raised its stake in AvePoint by 23.7% during the 4th quarter. Corton Capital Inc. now owns 18,482 shares of the company's stock valued at $305,000 after buying an additional 3,543 shares during the last quarter. Centiva Capital LP boosted its stake in shares of AvePoint by 57.2% in the 4th quarter. Centiva Capital LP now owns 18,864 shares of the company's stock worth $311,000 after buying an additional 6,865 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in AvePoint during the fourth quarter valued at $417,000. Finally, Bridgefront Capital LLC purchased a new position in AvePoint in the fourth quarter worth about $396,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the sale, the insider now owns 1,347,145 shares of the company's stock, valued at $20,746,033. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.19% of the company's stock.

AvePoint Stock Performance

AVPT stock traded down $0.14 during midday trading on Friday, reaching $19.46. 355,424 shares of the company traded hands, compared to its average volume of 1,252,581. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -389.12 and a beta of 1.30. AvePoint, Inc. has a 52-week low of $8.48 and a 52-week high of $20.25. The business has a 50 day moving average of $15.47 and a 200-day moving average of $16.54.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVPT shares. William Blair reiterated an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup dropped their price target on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Scotiabank upped 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. Finally, The Goldman Sachs Group increased their target price on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.40.

AvePoint 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.