Wellington Management Group LLP Acquires 340,509 Shares of AvePoint, Inc. $AVPT

Key Points

• Wellington Management Group LLP increased its stake in AvePoint, Inc. by 5.3% during the 1st quarter, holding 6,770,712 shares valued at approximately $97.77 million.
• Insider transactions included notable sales by executives, with Brian Michael Brown and Jeff Epstein reducing their shares by 2.86% and 30.16%, respectively, totaling over $10 million in sales.
• AvePoint's stock currently has a consensus rating of "Moderate Buy" among analysts, with a target price averaging $19.75, following multiple upgrades and target adjustments from different financial firms.

Wellington Management Group LLP increased its holdings in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,770,712 shares of the company's stock after acquiring an additional 340,509 shares during the quarter. Wellington Management Group LLP owned about 3.35% of AvePoint worth $97,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. M&T Bank Corp increased its stake in shares of AvePoint by 3.0% in the 1st quarter. M&T Bank Corp now owns 22,058 shares of the company's stock worth $319,000 after acquiring an additional 634 shares in the last quarter. SG Americas Securities LLC increased its stake 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 acquiring an additional 922 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of AvePoint by 4.9% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after acquiring an additional 1,117 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of AvePoint in the 4th quarter worth about $29,000. Finally, Versant Capital Management Inc bought a new position in shares of AvePoint in the 1st quarter worth about $31,000. 44.49% of the stock is currently owned by institutional investors.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the sale, the insider owned 1,155,443 shares of the company's stock, valued at $17,874,703.21. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff Epstein sold 500,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following 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 ninety days, insiders have sold 605,000 shares of company stock worth $11,220,400. Insiders own 26.19% of the company's stock.

AvePoint Stock Up 2.1%

Shares of NASDAQ AVPT traded up $0.33 during trading on Wednesday, reaching $15.69. 197,618 shares of the company traded hands, compared to its average volume of 1,348,102. The firm has a 50 day simple moving average of $17.66 and a 200-day simple moving average of $17.02. The stock has a market capitalization of $3.33 billion, a PE ratio of -310.44 and a beta of 1.35. AvePoint, Inc. has a 52-week low of $11.06 and a 52-week high of $20.25.

Analyst Ratings Changes

Several research analysts recently issued reports on AVPT shares. Scotiabank increased their price target on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 9th. B. Riley assumed coverage on shares of AvePoint in a research report on Tuesday. They set a "buy" rating and a $25.00 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Jefferies Financial Group assumed coverage on shares of AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective on the stock. Finally, Citigroup cut their price objective on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.80.

About AvePoint

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.