Rhumbline Advisers Boosts Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Rhumbline Advisers boosted its stake in AvePoint, Inc. (NASDAQ:AVPT) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,903 shares of the company’s stock after acquiring an additional 6,913 shares during the period. Rhumbline Advisers owned 0.09% of AvePoint worth $2,742,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in AvePoint in the fourth quarter worth about $25,000. Heck Capital Advisors LLC purchased a new position in AvePoint in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new stake in AvePoint in the first quarter worth $31,000. Point72 Hong Kong Ltd purchased a new stake in AvePoint in the fourth quarter worth $40,000. Finally, Principal Securities Inc. raised its stake in shares of AvePoint by 12,961.9% in the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock valued at $45,000 after buying an additional 2,722 shares during the period. Institutional investors own 44.49% of the company’s stock.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the sale, the insider now directly owns 1,312,145 shares in the company, valued at $19,826,510.95. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeff Epstein sold 500,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the sale, the director now owns 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 605,000 shares of company stock worth $11,089,500 over the last ninety days. Company insiders own 26.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVPT. William Blair reiterated an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. The Goldman Sachs Group increased their target price on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Scotiabank boosted their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday, May 9th. Finally, Citigroup lowered their price target on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.40.

AvePoint Stock Down 2.0%

NASDAQ AVPT opened at $18.59 on Monday. The company’s 50 day moving average is $17.26 and its 200-day moving average is $17.05. AvePoint, Inc. has a 12-month low of $9.02 and a 12-month high of $20.25. The firm has a market cap of $3.78 billion, a P/E ratio of -371.73 and a beta of 1.34.

About AvePoint

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.