HighTower Advisors LLC Sells 57,718 Shares of AvePoint, Inc. (NASDAQ:AVPT)

HighTower Advisors LLC reduced its stake in AvePoint, Inc. (NASDAQ:AVPT) by 21.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,513 shares of the company’s stock after selling 57,718 shares during the period. HighTower Advisors LLC owned approximately 0.11% of AvePoint worth $2,443,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of AvePoint during the second quarter valued at about $17,305,000. Federated Hermes Inc. lifted its holdings in shares of AvePoint by 3.6% in the second quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock worth $9,739,000 after buying an additional 32,821 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AvePoint by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock valued at $10,565,000 after acquiring an additional 63,323 shares during the period. Finally, Renaissance Technologies LLC grew its stake in AvePoint by 16.4% during the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock valued at $8,981,000 after acquiring an additional 121,200 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Stock Down 1.1 %

NASDAQ:AVPT opened at $18.37 on Friday. The stock has a market cap of $3.43 billion, a P/E ratio of -367.23 and a beta of 1.00. The business’s 50-day moving average price is $15.00 and its two-hundred day moving average price is $12.14. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $19.16.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their target price on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.20.

Insider Buying and Selling

In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $11.73, for a total transaction of $117,300.00. Following the sale, the insider now owns 18,410,673 shares in the company, valued at approximately $215,957,194.29. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James Caci sold 20,215 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now owns 591,890 shares in the company, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,215 shares of company stock worth $1,795,881. Insiders own 27.78% of the company’s stock.

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.