AvePoint, Inc. (NASDAQ:AVPT) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 37.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,007,592 shares of the company’s stock after acquiring an additional 277,038 shares during the quarter. Millennium Management LLC’s holdings in AvePoint were worth $16,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AVPT. Wellington Management Group LLP increased its position in AvePoint by 56.9% in the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock valued at $106,163,000 after acquiring an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership increased its position in AvePoint by 566.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after acquiring an additional 2,276,258 shares during the period. Raymond James Financial Inc. acquired a new stake in AvePoint in the 4th quarter valued at approximately $18,067,000. Gotham Asset Management LLC increased its position in AvePoint by 4,694.5% in the 4th quarter. Gotham Asset Management LLC now owns 840,963 shares of the company’s stock valued at $13,884,000 after acquiring an additional 823,423 shares during the period. Finally, Marshall Wace LLP acquired a new stake in AvePoint in the 4th quarter valued at approximately $11,342,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVPT. Citigroup lowered their target price on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group lifted their price target on AvePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. William Blair reiterated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Finally, Scotiabank lifted their price target on AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday, May 9th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

AvePoint Stock Performance

Shares of AVPT stock opened at $18.32 on Thursday. The stock has a market cap of $3.70 billion, a PE ratio of -366.33 and a beta of 1.30. The business’s fifty day moving average is $15.85 and its 200-day moving average is $16.72. AvePoint, Inc. has a 1 year low of $8.87 and a 1 year high of $20.25.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the completion of the sale, the insider now directly owns 1,312,145 shares of the company’s stock, valued at $19,826,510.95. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 26.19% of the company’s stock.

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.