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

Point72 Asset Management L.P. boosted its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 263.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,340 shares of the company’s stock after purchasing an additional 89,440 shares during the period. Point72 Asset Management L.P. owned about 0.07% of AvePoint worth $2,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in AvePoint by 358.5% in the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock worth $2,428,000 after purchasing an additional 161,354 shares during the period. Sheets Smith Wealth Management grew its position in AvePoint by 17.0% in the 4th quarter. Sheets Smith Wealth Management now owns 43,481 shares of the company’s stock worth $718,000 after purchasing an additional 6,329 shares during the period. SG Americas Securities LLC grew its position in AvePoint by 31.2% in the 4th quarter. SG Americas Securities LLC now owns 30,060 shares of the company’s stock worth $496,000 after purchasing an additional 7,141 shares during the period. Southland Equity Partners LLC bought a new stake in AvePoint in the 4th quarter worth approximately $197,000. Finally, Pacer Advisors Inc. grew its position in AvePoint by 29.7% in the 4th quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after purchasing an additional 1,010 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Price Performance

Shares of AvePoint stock opened at $18.64 on Wednesday. The company’s fifty day simple moving average is $15.78 and its 200-day simple moving average is $16.70. The stock has a market capitalization of $3.76 billion, a PE ratio of -372.73 and a beta of 1.30. AvePoint, Inc. has a 1-year low of $8.87 and a 1-year high of $20.25.

Insider Transactions at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.40, for a total transaction of $539,000.00. Following the transaction, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. The trade was a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 26.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup cut their target price on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company 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. Scotiabank lifted their target price on shares of AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group lifted 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

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.