Jennison Associates LLC Increases Stock Holdings in AvePoint, Inc. $AVPT

Jennison Associates LLC boosted its position in AvePoint, Inc. (NASDAQ:AVPT) by 37.0% in the second quarter, Holdings Channel.com reports. The firm owned 2,908,473 shares of the company’s stock after buying an additional 786,016 shares during the quarter. Jennison Associates LLC’s holdings in AvePoint were worth $56,163,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in AvePoint by 5.3% in the first quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company’s stock worth $97,769,000 after purchasing an additional 340,509 shares in the last quarter. Parsifal Capital Management LP raised its holdings in AvePoint by 130.3% in the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock worth $73,366,000 after purchasing an additional 2,874,842 shares in the last quarter. Millennium Management LLC raised its holdings in AvePoint by 104.3% in the first quarter. Millennium Management LLC now owns 2,058,092 shares of the company’s stock worth $29,719,000 after purchasing an additional 1,050,500 shares in the last quarter. Invesco Ltd. raised its holdings in AvePoint by 112.8% in the first quarter. Invesco Ltd. now owns 1,678,190 shares of the company’s stock worth $24,233,000 after purchasing an additional 889,671 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in AvePoint by 17.7% in the first quarter. Raymond James Financial Inc. now owns 1,287,819 shares of the company’s stock worth $18,596,000 after purchasing an additional 193,502 shares in the last quarter. Institutional investors own 44.49% of the company’s stock.

Insider Buying and Selling

In related news, CEO Tianyi Jiang sold 2,068,966 shares of AvePoint stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86. Following the completion of the sale, the chief executive officer directly owned 13,841,853 shares in the company, valued at approximately $210,534,584.13. This trade represents a 13.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 1,848 shares of AvePoint stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $15.03, for a total value of $27,775.44. Following the completion of the sale, the insider owned 631,893 shares of the company’s stock, valued at $9,497,351.79. The trade was a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,695,780 shares of company stock worth $86,652,648 in the last three months. 26.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on AVPT shares. Baird R W upgraded AvePoint to a “hold” rating in a report on Monday. Morgan Stanley set a $18.30 price objective on AvePoint in a report on Monday, October 20th. DA Davidson initiated coverage on AvePoint in a report on Monday, September 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Finally, Jefferies Financial Group initiated coverage on AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

AvePoint Price Performance

Shares of NASDAQ:AVPT opened at $13.87 on Thursday. AvePoint, Inc. has a 1-year low of $12.08 and a 1-year high of $20.25. The business has a fifty day moving average price of $15.31 and a 200-day moving average price of $16.90. The company has a market capitalization of $2.94 billion, a PE ratio of -277.34 and a beta of 1.41.

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.