Wellington Management Group LLP lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 56.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,430,203 shares of the company's stock after purchasing an additional 2,332,813 shares during the quarter. Wellington Management Group LLP owned approximately 3.19% of AvePoint worth $106,163,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of AvePoint by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company's stock worth $10,565,000 after buying an additional 63,323 shares during the last quarter. Cerity Partners LLC lifted its holdings in AvePoint by 6.6% in the 3rd quarter. Cerity Partners LLC now owns 41,499 shares of the company's stock worth $488,000 after purchasing an additional 2,571 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in AvePoint by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock worth $824,000 after purchasing an additional 5,352 shares during the period. FMR LLC grew its holdings in AvePoint by 1,253.0% during the third quarter. FMR LLC now owns 38,275 shares of the company's stock valued at $450,000 after purchasing an additional 35,446 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in shares of AvePoint in the third quarter valued at approximately $29,000. Institutional investors own 44.49% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on AVPT shares. William Blair reiterated an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup cut their price objective on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. 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 has an average rating of "Moderate Buy" and a consensus price target of $15.75.
Read Our Latest Research Report on AvePoint
AvePoint Stock Up 2.7 %
NASDAQ AVPT traded up $0.37 during midday trading on Tuesday, hitting $13.91. The company had a trading volume of 191,912 shares, compared to its average volume of 1,192,381. The firm has a fifty day simple moving average of $16.48 and a two-hundred day simple moving average of $15.77. AvePoint, Inc. has a fifty-two week low of $7.62 and a fifty-two week high of $19.90. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -278.36 and a beta of 1.20.
Insider Activity at AvePoint
In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the transaction, the insider now owns 1,347,145 shares of the company's stock, valued at $20,746,033. This represents a 2.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 26.19% of the stock is owned by corporate insiders.
AvePoint Profile
(
Free Report)
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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