Principal Financial Group Inc. Cuts Position in AvePoint, Inc. (NASDAQ:AVPT)

Principal Financial Group Inc. trimmed its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 21.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,862 shares of the company’s stock after selling 18,862 shares during the period. Principal Financial Group Inc.’s holdings in AvePoint were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVPT. Acadian Asset Management LLC bought a new stake in AvePoint in the second quarter worth $2,250,000. Quest Partners LLC purchased a new position in shares of AvePoint in the 2nd quarter worth $434,000. Federated Hermes Inc. increased its holdings in shares of AvePoint by 3.6% in the 2nd quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock worth $9,739,000 after buying an additional 32,821 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after buying an additional 227,324 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of AvePoint by 16.4% in the 2nd quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock valued at $8,981,000 after acquiring an additional 121,200 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

AvePoint Trading Up 3.1 %

AVPT stock opened at $17.14 on Friday. AvePoint, Inc. has a 12 month low of $7.08 and a 12 month high of $19.16. The stock has a market cap of $3.20 billion, a PE ratio of -342.73 and a beta of 1.00. The company has a 50-day moving average price of $16.58 and a 200 day moving average price of $13.02.

Insider Buying and Selling at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, October 21st. The stock was sold at an average price of $12.10, for a total transaction of $121,000.00. Following the completion of the sale, the insider now directly owns 18,320,673 shares in the company, valued at approximately $221,680,143.30. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Caci sold 20,215 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the completion of the transaction, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,215 shares of company stock worth $1,321,081 over the last 90 days. Company insiders own 27.78% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price objective on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

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.