Bank of New York Mellon Corp Has $15.77 Million Stake in AvePoint, Inc. (NASDAQ:AVPT)

Bank of New York Mellon Corp cut its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,394 shares of the company’s stock after selling 26,957 shares during the period. Bank of New York Mellon Corp owned 0.51% of AvePoint worth $15,774,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in AvePoint during the 4th quarter worth $25,000. National Bank of Canada FI acquired a new stake in shares of AvePoint during the 3rd quarter worth about $29,000. Heck Capital Advisors LLC acquired a new position in shares of AvePoint in the 4th quarter worth approximately $29,000. R Squared Ltd bought a new stake in shares of AvePoint during the fourth quarter worth $45,000. Finally, Principal Securities Inc. increased its position in AvePoint by 12,961.9% in the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock valued at $45,000 after acquiring an additional 2,722 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 $13.62 on Wednesday. AvePoint, Inc. has a 52 week low of $7.44 and a 52 week high of $19.90. The stock has a market capitalization of $2.75 billion, a PE ratio of -272.35 and a beta of 1.11. The stock has a 50 day moving average price of $17.42 and a 200 day moving average price of $15.36.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVPT. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup decreased their price objective on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group raised 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 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.75.

About AvePoint

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.