Invesco Ltd. Trims Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Invesco Ltd. cut its stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 788,519 shares of the company's stock after selling 150,908 shares during the quarter. Invesco Ltd. owned about 0.42% of AvePoint worth $13,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of AvePoint by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock worth $252,276,000 after acquiring an additional 150,885 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after purchasing an additional 2,332,813 shares during the period. Geode Capital Management LLC boosted its stake in shares of AvePoint by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company's stock valued at $47,067,000 after purchasing an additional 20,720 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in AvePoint by 566.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after buying an additional 2,276,258 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in AvePoint by 7.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock valued at $27,370,000 after buying an additional 121,144 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AVPT shares. Citigroup reduced their target price on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, AvePoint has an average rating of "Moderate Buy" and a consensus price target of $15.75.

Insider Activity

In other 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 sale, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.19% of the company's stock.

AvePoint Stock Up 2.0 %

AVPT stock traded up $0.31 during trading on Friday, hitting $16.07. 563,720 shares of the company's stock traded hands, compared to its average volume of 1,212,629. The firm has a market capitalization of $3.24 billion, a P/E ratio of -321.34 and a beta of 1.20. AvePoint, Inc. has a 1 year low of $7.77 and a 1 year high of $19.90. The business has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $16.00.

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.