Principal Financial Group Inc. Sells 279,386 Shares of AvePoint, Inc. $AVPT

Principal Financial Group Inc. decreased its position in AvePoint, Inc. (NASDAQ:AVPT) by 96.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,177 shares of the company’s stock after selling 279,386 shares during the quarter. Principal Financial Group Inc.’s holdings in AvePoint were worth $153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of AvePoint during the third quarter valued at about $26,000. Advisors Asset Management Inc. grew its position in AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock worth $44,000 after purchasing an additional 919 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in AvePoint in the 2nd quarter valued at about $103,000. EverSource Wealth Advisors LLC lifted its position in shares of AvePoint by 6,111.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,342 shares of the company’s stock worth $103,000 after buying an additional 5,256 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of AvePoint during the 3rd quarter worth approximately $155,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVPT shares. Evercore reduced their target price on AvePoint from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of AvePoint in a report on Monday, December 29th. Wall Street Zen upgraded AvePoint from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Cantor Fitzgerald decreased their target price on AvePoint from $22.50 to $18.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Finally, Zacks Research cut AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.21.

Insider Buying and Selling

In other AvePoint news, Chairman Xunkai Gong sold 27,998 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $13.39, for a total transaction of $374,893.22. Following the sale, the chairman directly owned 14,920,668 shares of the company’s stock, valued at $199,787,744.52. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.19% of the stock is currently owned by company insiders.

AvePoint Stock Down 1.2%

Shares of NASDAQ AVPT opened at $10.50 on Friday. AvePoint, Inc. has a one year low of $10.12 and a one year high of $20.25. The business’s fifty day moving average price is $12.48 and its 200-day moving average price is $13.88.

AvePoint Profile

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.