Schonfeld Strategic Advisors LLC Acquires New Position in AvePoint, Inc. (NASDAQ:AVPT)

Schonfeld Strategic Advisors LLC purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 125,233 shares of the company's stock, valued at approximately $2,068,000. Schonfeld Strategic Advisors LLC owned 0.07% of AvePoint as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in AvePoint by 56.9% during the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after acquiring an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership lifted 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 valued at $44,220,000 after acquiring an additional 2,276,258 shares during the period. Raymond James Financial Inc. acquired a new stake in AvePoint during the 4th quarter valued at approximately $18,067,000. Marshall Wace LLP acquired a new stake in AvePoint during the 4th quarter valued at approximately $11,342,000. Finally, Next Century Growth Investors LLC acquired a new stake in AvePoint during the 4th quarter valued at approximately $10,044,000. Institutional investors and hedge funds own 44.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVPT shares. Citigroup decreased their target price on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. William Blair reiterated an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Finally, Scotiabank boosted their target price on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

AvePoint Stock Performance

Shares of AVPT traded up $1.45 during trading hours on Friday, hitting $18.85. The stock had a trading volume of 3,733,089 shares, compared to its average volume of 1,242,187. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -376.92 and a beta of 1.30. The firm has a 50-day moving average price of $15.06 and a 200 day moving average price of $16.39. AvePoint, Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $19.90.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.19% of the stock is owned by insiders.

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.