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

Connor Clark & Lunn Investment Management Ltd. cut its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 280,114 shares of the company’s stock after selling 47,898 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of AvePoint worth $4,625,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in AvePoint in the fourth quarter valued at approximately $25,000. National Bank of Canada FI acquired a new position in AvePoint in the third quarter valued at approximately $29,000. Heck Capital Advisors LLC acquired a new position in AvePoint in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new position in AvePoint in the fourth quarter valued at approximately $45,000. Finally, Principal Securities Inc. lifted its stake in AvePoint by 12,961.9% in the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock valued at $45,000 after buying an additional 2,722 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on AVPT. Citigroup dropped their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.75.

AvePoint Stock Up 6.3 %

Shares of NASDAQ:AVPT opened at $14.66 on Monday. AvePoint, Inc. has a twelve month low of $7.44 and a twelve month high of $19.90. The stock’s 50 day moving average is $17.27 and its 200-day moving average is $15.43. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -293.14 and a beta of 1.11.

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.