Connor Clark & Lunn Investment Management Ltd. Sells 47,898 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,114 shares of the company’s stock after selling 47,898 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AvePoint were worth $4,625,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP bought a new position in AvePoint in the 3rd quarter valued at $48,226,000. Raymond James Financial Inc. bought a new position in AvePoint in the 4th quarter valued at $18,067,000. Walleye Capital LLC bought a new position in AvePoint in the 3rd quarter valued at $2,970,000. JPMorgan Chase & Co. grew its stake in AvePoint by 13.6% in the 3rd 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 period. Finally, Barclays PLC grew its stake in AvePoint by 358.5% in the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after purchasing an additional 161,354 shares during the period. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

AVPT stock opened at $14.66 on Monday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -293.14 and a beta of 1.11. AvePoint, Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $19.90. The stock has a fifty day moving average of $17.27 and a 200-day moving average of $15.43.

Wall Street Analysts Forecast Growth

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