Arrowstreet Capital Limited Partnership Acquires 2,276,258 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Arrowstreet Capital Limited Partnership grew its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 566.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,678,403 shares of the company’s stock after buying an additional 2,276,258 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in AvePoint were worth $44,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AVPT. Pacer Advisors Inc. grew its stake in AvePoint by 29.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock valued at $73,000 after acquiring an additional 1,010 shares in the last quarter. Moran Wealth Management LLC boosted its holdings in shares of AvePoint by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock valued at $818,000 after purchasing an additional 1,083 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of AvePoint during the fourth quarter valued at about $25,000. Blair William & Co. IL increased its holdings in shares of AvePoint by 24.7% in the fourth quarter. Blair William & Co. IL now owns 7,563 shares of the company’s stock worth $125,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of AvePoint in the fourth quarter worth about $29,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Trading Up 2.3 %

AVPT opened at $14.77 on Wednesday. The stock has a 50-day moving average of $16.79 and a 200 day moving average of $15.70. AvePoint, Inc. has a 12 month low of $7.52 and a 12 month high of $19.90. The firm has a market cap of $2.98 billion, a P/E ratio of -295.34 and a beta of 1.11.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the firm’s 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 completion of the sale, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup cut their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.75.

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.