AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 773,641 shares of the company’s stock after selling 181,753 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of AvePoint worth $11,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its position in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock worth $106,163,000 after buying an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership grew its position in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after buying an additional 2,276,258 shares during the period. Parsifal Capital Management LP acquired a new position in AvePoint during the fourth quarter worth about $36,419,000. Raymond James Financial Inc. acquired a new position in AvePoint during the fourth quarter worth about $18,067,000. Finally, Gotham Asset Management LLC grew its position in AvePoint by 4,694.5% during the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company’s stock worth $13,884,000 after buying an additional 823,423 shares during the period. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Price Performance

AVPT stock opened at $18.78 on Monday. The company’s 50 day simple moving average is $18.80 and its 200-day simple moving average is $17.20. The firm has a market capitalization of $3.82 billion, a PE ratio of -144.45 and a beta of 1.33. AvePoint, Inc. has a 12 month low of $9.38 and a 12 month high of $20.25.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVPT. Scotiabank upped 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. The Goldman Sachs Group upped 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.40.

Insider Activity at AvePoint

In other news, Director Jeff Epstein sold 500,000 shares of the stock in a transaction that occurred on 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 directly owned 1,157,891 shares in the company, valued at $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $18.23, for a total transaction of $638,050.00. Following the completion of the sale, the insider owned 1,225,443 shares in the company, valued at $22,339,825.89. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 605,000 shares of company stock worth $11,188,550 over the last quarter. Company insiders own 26.19% 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.