102,310 Shares in AvePoint, Inc. (NASDAQ:AVPT) Bought by Sheets Smith Investment Management

Sheets Smith Investment Management bought a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 102,310 shares of the company’s stock, valued at approximately $1,689,000. AvePoint accounts for about 1.4% of Sheets Smith Investment Management’s portfolio, making the stock its 18th biggest holding. Sheets Smith Investment Management owned about 0.05% of AvePoint at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. increased its position in AvePoint by 29.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after acquiring an additional 1,010 shares during the period. Moran Wealth Management LLC increased its position in AvePoint by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock worth $818,000 after acquiring an additional 1,083 shares during the period. Global Retirement Partners LLC bought a new stake in AvePoint in the 4th quarter valued at $25,000. Heck Capital Advisors LLC bought a new stake in AvePoint in the 4th quarter valued at $29,000. Finally, Balboa Wealth Partners increased its holdings in AvePoint by 19.1% in the 4th quarter. Balboa Wealth Partners now owns 12,641 shares of the company’s stock valued at $209,000 after buying an additional 2,027 shares during the period. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

Shares of NASDAQ:AVPT opened at $15.05 on Monday. AvePoint, Inc. has a 52 week low of $7.52 and a 52 week high of $19.90. The company’s fifty day moving average is $17.10 and its 200-day moving average is $15.55. The company has a market capitalization of $3.04 billion, a PE ratio of -300.94 and a beta of 1.11.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVPT shares. 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 report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.