Millennium Management LLC Purchases 1,050,500 Shares of AvePoint, Inc. $AVPT

Key Points

• Millennium Management LLC increased its stake in AvePoint, Inc. by 104.3%, purchasing an additional 1,050,500 shares, bringing their total ownership to 2,058,092 shares valued at approximately $29.7 million.
• Insider Brian Michael Brown sold 35,000 shares of AvePoint stock, reducing their ownership to approximately 1.15 million shares, worth nearly $17.9 million.
• Analysts have mixed ratings for AvePoint, with a consensus rating of "Moderate Buy" and a price target of $20.80, while shares recently opened at $15.75.

Millennium Management LLC lifted its stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 104.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,058,092 shares of the company's stock after purchasing an additional 1,050,500 shares during the quarter. Millennium Management LLC owned 1.02% of AvePoint worth $29,719,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. M&T Bank Corp grew its holdings 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 purchasing an additional 634 shares in the last quarter. State of Wyoming grew its holdings in shares of AvePoint by 3.0% during the 1st quarter. State of Wyoming now owns 27,128 shares of the company's stock worth $392,000 after purchasing an additional 780 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of AvePoint by 3.1% during 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. Sheaff Brock Investment Advisors LLC grew its holdings in shares of AvePoint by 4.9% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of AvePoint during the 4th quarter worth $29,000. 44.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $15.47, for a total transaction of $541,450.00. Following the sale, the insider directly owned 1,155,443 shares of the company's stock, valued at approximately $17,874,703.21. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 105,000 shares of company stock worth $1,835,400 over the last quarter. Company insiders own 26.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVPT. Jefferies Financial Group began coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 target price on the stock. B. Riley initiated coverage on AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price objective on the stock. Citigroup reduced their price objective on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Finally, Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, AvePoint presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.80.

AvePoint Stock Down 5.2%

NASDAQ:AVPT opened at $15.75 on Thursday. The stock's 50-day simple moving average is $17.11 and its 200 day simple moving average is $16.81. AvePoint, Inc. has a twelve month low of $11.43 and a twelve month high of $20.25. The firm has a market capitalization of $3.34 billion, a PE ratio of -314.94 and a beta of 1.40.

AvePoint Company 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.

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