AvePoint, Inc. (NASDAQ:AVPT) Shares Acquired by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. increased its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,475 shares of the company’s stock after acquiring an additional 1,042 shares during the quarter. Summit Investment Advisors Inc.’s holdings in AvePoint were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVPT. Vanguard Group Inc. grew its holdings in shares of AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock worth $252,276,000 after buying an additional 150,885 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 acquiring an additional 2,332,813 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AvePoint by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock worth $47,067,000 after acquiring an additional 20,720 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after purchasing an additional 2,276,258 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AvePoint by 7.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company’s stock valued at $27,370,000 after purchasing an additional 121,144 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Trading Down 2.8 %

Shares of NASDAQ AVPT opened at $14.03 on Tuesday. The company’s 50-day moving average price is $15.36 and its 200 day moving average price is $15.96. AvePoint, Inc. has a 52 week low of $7.65 and a 52 week high of $19.90. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -280.54 and a beta of 1.20.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVPT. William Blair reissued an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup lowered their price target on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AvePoint presently has a consensus rating of “Moderate Buy” and an average target price of $15.75.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Monday, March 24th. The stock was 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 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 link. Company insiders own 26.19% of the company’s stock.

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.