4,097,390 Shares in AvePoint, Inc. (NASDAQ:AVPT) Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,097,390 shares of the company's stock, valued at approximately $48,226,000. Wellington Management Group LLP owned 2.19% of AvePoint at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE raised its position in shares of AvePoint by 8.0% during the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company's stock valued at $220,000 after purchasing an additional 1,391 shares during the period. Cerity Partners LLC grew its stake in AvePoint by 6.6% during the third quarter. Cerity Partners LLC now owns 41,499 shares of the company's stock valued at $488,000 after acquiring an additional 2,571 shares in the last quarter. Creative Planning grew its stake in AvePoint by 19.1% during the third quarter. Creative Planning now owns 29,345 shares of the company's stock valued at $345,000 after acquiring an additional 4,698 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in AvePoint by 14.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company's stock valued at $337,000 after acquiring an additional 5,316 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in AvePoint by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock valued at $824,000 after acquiring an additional 5,352 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AvePoint news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the transaction, the chief financial officer now directly owns 591,890 shares of the company's stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $171,200.00. Following the completion of the transaction, the insider now directly owns 18,270,673 shares of the company's stock, valued at $312,793,921.76. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,215 shares of company stock valued at $1,795,881 in the last three months. Corporate insiders own 27.78% of the company's stock.

AvePoint Stock Performance

Shares of NASDAQ:AVPT traded up $0.19 on Thursday, reaching $18.64. The company's stock had a trading volume of 375,949 shares, compared to its average volume of 1,037,339. AvePoint, Inc. has a 52-week low of $7.08 and a 52-week high of $19.16. The company has a market cap of $3.48 billion, a P/E ratio of -369.00 and a beta of 0.99. The company has a 50-day simple moving average of $14.73 and a 200 day simple moving average of $12.03.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.20.

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.