Moran Wealth Management LLC Has $900,000 Holdings in AvePoint, Inc. $AVPT

Moran Wealth Management LLC trimmed its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 2.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 46,624 shares of the company’s stock after selling 1,006 shares during the period. Moran Wealth Management LLC’s holdings in AvePoint were worth $900,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in AvePoint by 1,655.8% during the first quarter. GAMMA Investing LLC now owns 34,309 shares of the company’s stock valued at $495,000 after acquiring an additional 32,355 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of AvePoint by 3.1% during the 1st quarter. SG Americas Securities LLC now owns 30,982 shares of the company’s stock valued at $447,000 after purchasing an additional 922 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of AvePoint in the 1st quarter valued at $175,000. KBC Group NV bought a new stake in AvePoint in the first quarter worth $67,000. Finally, Principal Financial Group Inc. increased its position in AvePoint by 5.9% during the first quarter. Principal Financial Group Inc. now owns 78,396 shares of the company’s stock worth $1,132,000 after buying an additional 4,348 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Down 1.2%

Shares of NASDAQ AVPT opened at $14.36 on Thursday. AvePoint, Inc. has a 12 month low of $11.61 and a 12 month high of $20.25. The company has a market cap of $3.04 billion, a P/E ratio of -287.14 and a beta of 1.41. The business’s 50 day moving average is $15.43 and its two-hundred day moving average is $16.84.

Analyst Ratings Changes

A number of analysts have weighed in on AVPT shares. Citigroup reduced their price target on AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Cantor Fitzgerald upgraded AvePoint to a “strong-buy” rating in a report on Friday, July 25th. B. Riley initiated coverage on shares of AvePoint in a research report on Tuesday, August 26th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Insider Buying and Selling at AvePoint

In related news, CEO Tianyi Jiang sold 2,068,966 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $31,468,972.86. Following the completion of the transaction, the chief executive officer directly owned 13,841,853 shares in the company, valued at $210,534,584.13. This represents a 13.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Chi On Ho sold 650,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the completion of the sale, the director directly owned 3,732,679 shares of the company’s stock, valued at approximately $56,774,047.59. This trade represents a 14.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,728,932 shares of company stock valued at $87,280,772 in the last three months. 26.19% of the stock is owned by insiders.

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.