Rhumbline Advisers Purchases 6,913 Shares of AvePoint, Inc. $AVPT

Rhumbline Advisers lifted its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,903 shares of the company’s stock after acquiring an additional 6,913 shares during the period. Rhumbline Advisers owned approximately 0.09% of AvePoint worth $2,742,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of AvePoint during the fourth quarter worth $29,000. Versant Capital Management Inc bought a new stake in shares of AvePoint during the first quarter worth $31,000. Summit Securities Group LLC increased its position in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after acquiring an additional 2,263 shares in the last quarter. Quarry LP increased its position in shares of AvePoint by 2,028.3% during the first quarter. Quarry LP now owns 3,831 shares of the company’s stock worth $55,000 after acquiring an additional 3,651 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of AvePoint during the first quarter worth $67,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

NASDAQ:AVPT opened at $15.45 on Wednesday. AvePoint, Inc. has a 52 week low of $11.43 and a 52 week high of $20.25. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -308.94 and a beta of 1.40. The firm’s 50-day simple moving average is $16.86 and its 200 day simple moving average is $16.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AVPT shares. Jefferies Financial Group started coverage on shares of AvePoint in a research report on Monday, July 21st. They set a “buy” rating and a $22.00 price objective for the company. B. Riley started coverage on shares of AvePoint in a research report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price objective for the company. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Citigroup reduced their target price on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.47, for a total value of $541,450.00. Following the transaction, the insider directly owned 1,155,443 shares of the company’s stock, valued at $17,874,703.21. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 105,000 shares of company stock valued at $1,835,400. 26.19% of the stock is owned by company insiders.

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.