Jennison Associates LLC Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

Jennison Associates LLC bought a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp raised its position in shares of AvePoint by 3.0% during the 1st quarter. M&T Bank Corp now owns 22,058 shares of the company's stock worth $319,000 after buying an additional 634 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of AvePoint by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock worth $447,000 after purchasing an additional 922 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of AvePoint by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock valued at $222,000 after acquiring an additional 1,042 shares during the period. Blair William & Co. IL raised its holdings in shares of AvePoint by 24.7% during the fourth quarter. Blair William & Co. IL now owns 7,563 shares of the company's stock valued at $125,000 after acquiring an additional 1,500 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of AvePoint during the fourth quarter valued at approximately $29,000. 44.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $18.23, for a total value of $638,050.00. Following the sale, the insider owned 1,225,443 shares of the company's stock, valued at approximately $22,339,825.89. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the sale, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 570,000 shares of company stock valued at $10,659,700. Corporate insiders own 26.19% of the company's stock.

AvePoint Trading Up 0.3%

NASDAQ:AVPT traded up $0.05 during trading hours on Wednesday, hitting $18.70. 237,801 shares of the company traded hands, compared to its average volume of 1,234,670. AvePoint, Inc. has a twelve month low of $9.38 and a twelve month high of $20.25. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -143.84 and a beta of 1.33. The firm has a 50-day moving average of $18.80 and a 200 day moving average of $17.20.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of AvePoint in a research report on Monday. They set a "buy" rating and a $22.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Finally, Scotiabank upped their price objective on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.17.

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.