Point72 Asset Management L.P. Grows Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Point72 Asset Management L.P. lifted its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 263.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,340 shares of the company’s stock after buying an additional 89,440 shares during the quarter. Point72 Asset Management L.P.’s holdings in AvePoint were worth $2,036,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings 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 valued at $252,276,000 after buying an additional 150,885 shares in the last quarter. Wellington Management Group LLP lifted its stake in AvePoint by 56.9% in the 4th 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. Geode Capital Management LLC lifted its stake in AvePoint by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock worth $47,067,000 after purchasing an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted 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 purchasing an additional 2,276,258 shares in the last quarter. Finally, Parsifal Capital Management LP purchased a new stake in AvePoint in the 4th quarter worth $36,419,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Scotiabank boosted their price target on shares of AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 9th. Citigroup decreased their price target on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, William Blair reiterated an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.40.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the sale, the insider now directly owns 1,312,145 shares in the company, valued at $19,826,510.95. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 26.19% of the company’s stock.

AvePoint Stock Down 1.8%

AvePoint stock opened at $18.64 on Wednesday. The company’s 50-day moving average price is $15.78 and its 200-day moving average price is $16.70. AvePoint, Inc. has a twelve month low of $8.87 and a twelve month high of $20.25. The company has a market cap of $3.76 billion, a PE ratio of -372.73 and a beta of 1.30.

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.