Russell Investments Group Ltd. Sells 141,974 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Russell Investments Group Ltd. lowered its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 409,052 shares of the company’s stock after selling 141,974 shares during the period. Russell Investments Group Ltd. owned about 0.22% of AvePoint worth $6,753,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock valued at $252,276,000 after buying an additional 150,885 shares during the period. Wellington Management Group LLP grew its stake in AvePoint by 56.9% in the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock valued at $106,163,000 after purchasing an additional 2,332,813 shares during the last quarter. Geode Capital Management LLC raised its holdings in AvePoint by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock worth $47,067,000 after purchasing an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after buying an additional 2,276,258 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of AvePoint by 7.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company’s stock worth $27,370,000 after buying an additional 121,144 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Trading Up 0.9 %

Shares of NASDAQ:AVPT opened at $14.53 on Monday. AvePoint, Inc. has a twelve month low of $7.62 and a twelve month high of $19.90. The company’s 50 day moving average is $15.95 and its 200 day moving average is $15.84. The company has a market cap of $2.93 billion, a PE ratio of -290.54 and a beta of 1.20.

Insider Buying and Selling at AvePoint

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Citigroup cut their price target 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 reaffirmed an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.75.

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.