Summit Investment Advisors Inc. Grows Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Summit Investment Advisors Inc. lifted its position in AvePoint, Inc. (NASDAQ:AVPT) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,475 shares of the company’s stock after buying 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 reporting period.

Several other hedge funds have also recently bought and sold shares of AVPT. Global Retirement Partners LLC acquired a new stake in shares of AvePoint during the fourth quarter worth about $25,000. Heck Capital Advisors LLC acquired a new stake in AvePoint during the 4th quarter worth approximately $29,000. R Squared Ltd purchased a new position in AvePoint in the 4th quarter valued at approximately $45,000. Principal Securities Inc. grew its stake in shares of AvePoint by 12,961.9% in the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock worth $45,000 after acquiring an additional 2,722 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock valued at $73,000 after acquiring an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $14.03 on Tuesday. The stock’s 50-day simple moving average is $15.36 and its 200-day simple moving average is $15.96. The firm has a market capitalization of $2.83 billion, a PE ratio of -280.54 and a beta of 1.20. AvePoint, Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.90.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the transaction, 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 SEC, which is accessible through this link. 26.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup cut their price target on 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 report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.75.

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.