Principal Financial Group Inc. Raises Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Principal Financial Group Inc. boosted its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 5.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,396 shares of the company’s stock after purchasing an additional 4,348 shares during the period. Principal Financial Group Inc.’s holdings in AvePoint were worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new stake in AvePoint in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new stake in AvePoint in the 1st quarter valued at approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in AvePoint in the 4th quarter valued at approximately $40,000. KBC Group NV acquired a new position in shares of AvePoint during the 1st quarter valued at $67,000. Finally, Blair William & Co. IL increased its position in shares of AvePoint by 24.7% during the 4th quarter. Blair William & Co. IL now owns 7,563 shares of the company’s stock valued at $125,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 44.49% of the company’s stock.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $18.23, for a total value of $638,050.00. Following the sale, the insider directly owned 1,225,443 shares in the company, valued at $22,339,825.89. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the firm’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 completion of the transaction, the director owned 1,157,891 shares of the company’s stock, valued at $21,733,614.07. The trade was a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 605,000 shares of company stock worth $11,188,550 in the last ninety days. 26.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on AVPT. The Goldman Sachs Group boosted their target price on AvePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. Scotiabank boosted 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

AvePoint Stock Performance

NASDAQ:AVPT opened at $18.78 on Friday. The stock’s fifty day moving average price is $18.80 and its two-hundred day moving average price is $17.20. AvePoint, Inc. has a 52-week low of $9.38 and a 52-week high of $20.25. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -144.45 and a beta of 1.33.

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.