Jennison Associates LLC purchased a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,122,457 shares of the company's stock, valued at approximately $30,648,000. Jennison Associates LLC owned 1.05% of AvePoint as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of AVPT. Wellington Management Group LLP boosted its stake in shares of AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after purchasing an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in AvePoint by 566.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after purchasing an additional 2,276,258 shares in the last quarter. Parsifal Capital Management LP bought a new position in shares of AvePoint during the fourth quarter valued at $36,419,000. Raymond James Financial Inc. bought a new stake in AvePoint in the 4th quarter worth about $18,067,000. Finally, Gotham Asset Management LLC increased its holdings in AvePoint by 4,694.5% in the 4th quarter. Gotham Asset Management LLC now owns 840,963 shares of the company's stock worth $13,884,000 after buying an additional 823,423 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.
AvePoint Stock Down 2.5%
Shares of AVPT stock traded down $0.48 during mid-day trading on Tuesday, hitting $18.79. 447,704 shares of the company's stock were exchanged, compared to its average volume of 1,236,412. AvePoint, Inc. has a fifty-two week low of $9.38 and a fifty-two week high of $20.25. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -144.52 and a beta of 1.33. The stock has a 50-day simple moving average of $18.80 and a two-hundred day simple moving average of $17.20.
Wall Street Analyst Weigh In
Several research firms recently weighed in on AVPT. Scotiabank increased their price target on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group increased their price target on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Jefferies Financial Group began coverage on AvePoint in a research note on Monday. They issued a "buy" rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.17.
View Our Latest Stock Analysis on AVPT
Insider Transactions at AvePoint
In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $18.23, for a total transaction of $638,050.00. Following the sale, the insider directly owned 1,225,443 shares of the company's stock, valued at approximately $22,339,825.89. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $18.77, for a total value of $9,385,000.00. Following the completion of the transaction, the director owned 1,157,891 shares of the company's stock, valued at $21,733,614.07. This trade represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 605,000 shares of company stock worth $11,188,550. Corporate insiders own 26.19% of the company's stock.
About AvePoint
(
Free Report)
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.
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