AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 21.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 & Exchange Commission.

A number of other large investors have also modified their holdings of AVPT. Harbor Capital Advisors Inc. purchased a new position in AvePoint in the third quarter valued at $1,404,000. US Bancorp DE raised its position in AvePoint by 8.0% in the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after purchasing an additional 1,391 shares in the last quarter. Smith Group Asset Management LLC boosted its stake in shares of AvePoint by 24.9% in the 3rd quarter. Smith Group Asset Management LLC now owns 53,304 shares of the company’s stock valued at $627,000 after buying an additional 10,614 shares during the period. Consolidated Portfolio Review Corp acquired a new position in shares of AvePoint during the third quarter worth about $611,000. Finally, Creative Planning increased its stake in shares of AvePoint by 19.1% during the third quarter. Creative Planning now owns 29,345 shares of the company’s stock worth $345,000 after buying an additional 4,698 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

AVPT has been the subject of a number of recent research reports. Northland Securities lifted their price target on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. The Goldman Sachs Group raised their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald boosted their target price on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Insider Activity at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint 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 $171,200.00. Following the transaction, the insider now owns 18,270,673 shares of the company’s stock, valued at $312,793,921.76. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 20,215 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the sale, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at $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 have sold 140,215 shares of company stock valued at $1,903,881 in the last ninety days. Insiders own 27.78% of the company’s stock.

AvePoint Trading Up 1.5 %

AVPT stock opened at $18.57 on Friday. The company’s 50 day moving average is $13.04 and its two-hundred day moving average is $11.16. AvePoint, Inc. has a twelve month low of $7.08 and a twelve month high of $18.75. The stock has a market cap of $3.47 billion, a P/E ratio of -371.33 and a beta of 0.88.

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.