Raymond James Financial Inc. Acquires New Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Raymond James Financial Inc. bought a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,094,317 shares of the company’s stock, valued at approximately $18,067,000. Raymond James Financial Inc. owned about 0.59% of AvePoint at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of AvePoint in the third quarter worth $48,226,000. Geode Capital Management LLC lifted its holdings in shares of AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after acquiring an additional 133,156 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AvePoint by 13.6% in 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 during the last quarter. Franklin Resources Inc. lifted its holdings in shares of AvePoint by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock worth $14,815,000 after acquiring an additional 27,191 shares during the last quarter. Finally, Ashford Capital Management Inc. lifted its holdings in AvePoint by 10.0% during the 3rd quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock valued at $12,844,000 after buying an additional 99,505 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. William Blair reissued an “outperform” rating on shares of AvePoint in a research report 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 research note on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $14.75 on Tuesday. The firm has a market cap of $2.98 billion, a PE ratio of -294.94 and a beta of 1.11. The firm has a fifty day moving average of $17.23 and a 200 day moving average of $15.45. AvePoint, Inc. has a one year low of $7.44 and a one year high of $19.90.

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.