Corebridge Financial Inc. Sells 3,820 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Corebridge Financial Inc. lowered its stake in AvePoint, Inc. (NASDAQ:AVPT) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 64,037 shares of the company’s stock after selling 3,820 shares during the period. Corebridge Financial Inc.’s holdings in AvePoint were worth $1,057,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Global Retirement Partners LLC acquired a new position in AvePoint in the fourth quarter valued at about $25,000. Heck Capital Advisors LLC bought a new stake in shares of AvePoint in the 4th quarter valued at about $29,000. National Bank of Canada FI acquired a new stake in shares of AvePoint in the 3rd quarter valued at approximately $29,000. R Squared Ltd bought a new position in AvePoint during the 4th quarter worth approximately $45,000. Finally, Principal Securities Inc. boosted its stake in AvePoint by 12,961.9% during the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock worth $45,000 after acquiring an additional 2,722 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on AVPT. William Blair reiterated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup dropped their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.75.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the sale, the insider now owns 1,347,145 shares of the company’s stock, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.19% of the stock is currently owned by company insiders.

AvePoint Stock Performance

Shares of AVPT opened at $13.33 on Friday. The firm has a market cap of $2.69 billion, a P/E ratio of -266.55 and a beta of 1.11. AvePoint, Inc. has a twelve month low of $7.62 and a twelve month high of $19.90. The firm’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $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.