Next Century Growth Investors LLC Purchases New Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Next Century Growth Investors LLC purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 608,340 shares of the company's stock, valued at approximately $10,044,000. Next Century Growth Investors LLC owned approximately 0.33% of AvePoint as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AVPT. Vanguard Group Inc. raised its position in shares of AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock worth $252,276,000 after acquiring an additional 150,885 shares during the last quarter. Wellington Management Group LLP lifted its position in AvePoint by 56.9% during the 4th 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. Geode Capital Management LLC lifted its position in AvePoint by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company's stock valued at $47,067,000 after purchasing an additional 20,720 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of AvePoint by 566.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after buying an additional 2,276,258 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of AvePoint by 7.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock worth $27,370,000 after buying an additional 121,144 shares during the last quarter. Institutional investors own 44.49% of the company's stock.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total transaction of $539,000.00. Following the completion of the transaction, the insider now directly owns 1,347,145 shares of the company's stock, valued at $20,746,033. This represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 26.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup reduced their price objective on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $15.75.

AvePoint Trading Down 0.7 %

Shares of NASDAQ AVPT traded down $0.10 during mid-day trading on Thursday, reaching $14.55. 238,690 shares of the company's stock were exchanged, compared to its average volume of 1,201,560. The business has a fifty day simple moving average of $15.67 and a 200 day simple moving average of $15.85. AvePoint, Inc. has a twelve month low of $7.62 and a twelve month high of $19.90. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -291.64 and a beta of 1.20.

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.