Sheets Smith Wealth Management Has $718,000 Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Sheets Smith Wealth Management increased its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,481 shares of the company’s stock after acquiring an additional 6,329 shares during the period. Sheets Smith Wealth Management’s holdings in AvePoint were worth $718,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of AvePoint in the 3rd quarter valued at about $48,226,000. Geode Capital Management LLC raised its position in AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after buying an additional 133,156 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AvePoint by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after acquiring an additional 227,324 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in AvePoint during the 2nd quarter worth approximately $17,305,000. Finally, JPMorgan Chase & Co. grew its stake in shares of AvePoint by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after acquiring an additional 184,361 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVPT has been the topic of a number of research reports. Citigroup boosted their price objective on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price objective on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two 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, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Activity

In related news, CFO James Caci sold 20,215 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $15.77, for a total value of $157,700.00. Following the completion of the sale, the insider now owns 18,310,673 shares in the company, valued at approximately $288,759,313.21. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,215 shares of company stock valued at $831,581. 27.78% of the stock is owned by company insiders.

AvePoint Trading Up 0.7 %

NASDAQ AVPT opened at $17.54 on Thursday. The firm has a market capitalization of $3.28 billion, a P/E ratio of -350.73 and a beta of 1.01. The firm’s fifty day moving average price is $17.48 and its two-hundred day moving average price is $13.63. AvePoint, Inc. has a 1 year low of $7.08 and a 1 year high of $19.16.

AvePoint Company 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.