Corebridge Financial Inc. Has $1.06 Million Stake in AvePoint, Inc. (NASDAQ:AVPT)

Corebridge Financial Inc. reduced its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,037 shares of the company’s stock after selling 3,820 shares during the quarter. Corebridge Financial Inc.’s holdings in AvePoint were worth $1,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVPT. The Manufacturers Life Insurance Company increased its position in shares of AvePoint by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company’s stock worth $824,000 after purchasing an additional 5,352 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in AvePoint by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock worth $10,565,000 after buying an additional 63,323 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after buying an additional 184,361 shares in the last quarter. Ashford Capital Management Inc. raised its stake in shares of AvePoint by 10.0% in the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after acquiring an additional 99,505 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of AvePoint by 358.5% in the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock worth $2,428,000 after acquiring an additional 161,354 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup cut their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, AvePoint currently has an average rating of “Moderate Buy” and an average price target of $15.75.

AvePoint Stock Performance

NASDAQ:AVPT opened at $13.33 on Friday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -266.55 and a beta of 1.11. The stock’s fifty day moving average price is $16.57 and its two-hundred day moving average price is $15.70. AvePoint, Inc. has a 52-week low of $7.62 and a 52-week high of $19.90.

Insider Transactions at AvePoint

In related 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 value of $539,000.00. Following the completion of the sale, the insider now directly owns 1,347,145 shares in the company, valued at $20,746,033. This trade represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.19% of the stock is currently owned by corporate insiders.

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.