Arrowstreet Capital Limited Partnership Increases Stock Position in AvePoint, Inc. (NASDAQ:AVPT)

Arrowstreet Capital Limited Partnership boosted its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 566.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,678,403 shares of the company’s stock after acquiring an additional 2,276,258 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.43% of AvePoint worth $44,220,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of AvePoint during the third quarter valued at $348,000. Charles Schwab Investment Management Inc. lifted its stake in AvePoint by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock valued at $10,565,000 after acquiring an additional 63,323 shares during the period. Cerity Partners LLC boosted its holdings in shares of AvePoint by 6.6% during the 3rd quarter. Cerity Partners LLC now owns 41,499 shares of the company’s stock valued at $488,000 after acquiring an additional 2,571 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AvePoint by 8.3% in the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock worth $824,000 after acquiring an additional 5,352 shares during the period. Finally, FMR LLC raised its holdings in shares of AvePoint by 1,253.0% during the third quarter. FMR LLC now owns 38,275 shares of the company’s stock valued at $450,000 after purchasing an additional 35,446 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total transaction of $539,000.00. Following the transaction, the insider now directly owns 1,347,145 shares of the company’s stock, valued at $20,746,033. The trade was a 2.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.19% of the company’s stock.

Wall Street Analyst Weigh In

AVPT has been the topic of several research reports. Citigroup dropped their target price on shares of 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 research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.75.

AvePoint Trading Up 2.3 %

Shares of NASDAQ AVPT opened at $14.77 on Wednesday. AvePoint, Inc. has a 12-month low of $7.52 and a 12-month high of $19.90. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -295.34 and a beta of 1.11. The firm has a 50 day moving average of $16.79 and a 200 day moving average of $15.70.

AvePoint 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.