Driehaus Capital Management LLC Raises Stock Holdings in AvePoint, Inc. $AVPT

Key Points

• Driehaus Capital Management LLC increased its holdings in AvePoint by 10.5% in the first quarter, owning approximately $16.24 million worth of shares as of the latest SEC filing.
• Multiple institutional investors, including Wellington Management and Invesco, also boosted their positions in AvePoint, reflecting significant institutional interest in the company.
• Analysts have varied ratings on AvePoint's stock, with a consensus rating of "Moderate Buy" and an average target price of $20.80, suggesting growth potential from current levels.

Driehaus Capital Management LLC increased its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 10.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,124,918 shares of the company's stock after buying an additional 106,513 shares during the quarter. Driehaus Capital Management LLC owned 0.56% of AvePoint worth $16,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in AvePoint in the fourth quarter valued at approximately $169,000. Mariner LLC bought a new stake in AvePoint in the fourth quarter valued at approximately $183,000. MetLife Investment Management LLC lifted its position in AvePoint by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 77,985 shares of the company's stock valued at $1,288,000 after purchasing an additional 4,102 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in AvePoint by 53.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,473 shares of the company's stock valued at $272,000 after purchasing an additional 5,745 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in AvePoint by 23.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,460 shares of the company's stock valued at $850,000 after purchasing an additional 9,801 shares during the last quarter. Institutional investors own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AVPT shares. Scotiabank boosted their price objective on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. The Goldman Sachs Group boosted their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. B. Riley started coverage on AvePoint in a research report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price objective for the company. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Citigroup reduced their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.80.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $15.47, for a total transaction of $541,450.00. Following the transaction, the insider directly owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 105,000 shares of company stock worth $1,835,400 over the last 90 days. 26.19% of the stock is currently owned by insiders.

AvePoint Stock Down 0.7%

Shares of AVPT traded down $0.12 during mid-day trading on Tuesday, hitting $16.24. 1,667,419 shares of the company's stock traded hands, compared to its average volume of 1,358,814. AvePoint, Inc. has a 1 year low of $11.33 and a 1 year high of $20.25. The firm has a market capitalization of $3.44 billion, a P/E ratio of -324.74 and a beta of 1.40. The business's 50-day moving average price is $17.49 and its 200-day moving average price is $16.91.

AvePoint 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.