Raymond James Financial Inc. Takes Position in AvePoint, Inc. (NASDAQ:AVPT)

Raymond James Financial Inc. purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,094,317 shares of the company's stock, valued at approximately $18,067,000. Raymond James Financial Inc. owned approximately 0.59% of AvePoint at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position 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 worth $106,163,000 after purchasing an additional 2,332,813 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in AvePoint by 566.0% during 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 last quarter. Scalar Gauge Management LLC acquired a new position in AvePoint during the fourth quarter worth approximately $9,985,000. Norges Bank purchased a new stake in AvePoint in the fourth quarter valued at approximately $9,158,000. Finally, Trexquant Investment LP boosted its holdings in shares of AvePoint by 78.0% in the fourth quarter. Trexquant Investment LP now owns 588,859 shares of the company's stock valued at $9,722,000 after acquiring an additional 258,029 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Trading Up 0.2 %

Shares of AvePoint stock traded up $0.04 during trading hours on Friday, hitting $15.80. 116,769 shares of the company were exchanged, compared to its average volume of 1,208,110. The business has a 50-day moving average of $15.09 and a 200-day moving average of $15.97. AvePoint, Inc. has a 1 year low of $7.74 and a 1 year high of $19.90. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -316.02 and a beta of 1.20.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint 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 owns 1,347,145 shares of the company's stock, valued at $20,746,033. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.19% of the stock is currently owned by corporate 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.