Raymond James Financial Inc. Invests $18.07 Million in AvePoint, Inc. (NASDAQ:AVPT)

Raymond James Financial Inc. acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,094,317 shares of the company’s stock, valued at approximately $18,067,000.

A number of other large investors also recently bought and sold shares of AVPT. Wellington Management Group LLP acquired a new stake in shares of AvePoint during the third quarter worth about $48,226,000. Geode Capital Management LLC increased its stake in AvePoint by 4.9% in the third quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock valued at $33,309,000 after purchasing an additional 133,156 shares during the last quarter. JPMorgan Chase & Co. increased its stake in AvePoint by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock valued at $18,086,000 after purchasing an additional 184,361 shares during the last quarter. Franklin Resources Inc. grew its position in shares of AvePoint by 2.3% during the third 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. grew its position in shares of AvePoint by 10.0% during the third quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after acquiring an additional 99,505 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

AVPT has been the subject of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup reduced their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Stock Performance

Shares of AVPT opened at $14.75 on Tuesday. The stock’s fifty day moving average is $17.23 and its 200-day moving average is $15.45. AvePoint, Inc. has a one year low of $7.44 and a one year high of $19.90. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -294.94 and a beta of 1.11.

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.