AvePoint, Inc. (NASDAQ:AVPT) Stake Reduced by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,318 shares of the company’s stock after selling 69,195 shares during the quarter. HighTower Advisors LLC’s holdings in AvePoint were worth $2,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quantbot Technologies LP raised its holdings in AvePoint by 142.8% during the 3rd quarter. Quantbot Technologies LP now owns 153,747 shares of the company’s stock worth $1,810,000 after buying an additional 90,413 shares during the period. The Manufacturers Life Insurance Company raised its holdings in AvePoint by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock worth $824,000 after buying an additional 5,352 shares during the period. Walleye Capital LLC acquired a new stake in AvePoint during the 3rd quarter worth about $2,970,000. Charles Schwab Investment Management Inc. raised its holdings in AvePoint by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock worth $10,565,000 after buying an additional 63,323 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in AvePoint by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after buying an additional 184,361 shares during the period. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup cut their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. William Blair restated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, AvePoint presently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Price Performance

Shares of AVPT opened at $15.05 on Friday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -300.94 and a beta of 1.11. AvePoint, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $19.90. The business’s 50-day moving average is $17.10 and its 200-day moving average is $15.52.

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.