Jennison Associates LLC Sells 405,699 Shares of AvePoint, Inc. $AVPT

Jennison Associates LLC trimmed its stake in AvePoint, Inc. (NASDAQ:AVPT) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,767,581 shares of the company’s stock after selling 405,699 shares during the period. Jennison Associates LLC’s holdings in AvePoint were worth $35,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVPT. Vanguard Group Inc. lifted its position in AvePoint by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock valued at $241,749,000 after purchasing an additional 195,404 shares during the last quarter. Parsifal Capital Management LP increased its holdings in shares of AvePoint by 61.2% in the 3rd quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock worth $127,926,000 after buying an additional 3,235,384 shares during the last quarter. Morgan Stanley increased its holdings in shares of AvePoint by 372.6% in the 4th quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock worth $109,332,000 after buying an additional 6,205,829 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AvePoint by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 3,643,473 shares of the company’s stock valued at $50,614,000 after buying an additional 234,080 shares in the last quarter. Finally, State Street Corp raised its position in shares of AvePoint by 9.8% during the 4th quarter. State Street Corp now owns 3,382,915 shares of the company’s stock valued at $46,989,000 after buying an additional 300,579 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AVPT shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. William Blair restated a “market perform” rating on shares of AvePoint in a research report on Monday, March 23rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.00 price target on shares of AvePoint in a research note on Wednesday, May 13th. DA Davidson reiterated a “buy” rating and issued a $18.00 price objective on shares of AvePoint in a report on Monday, July 6th. Finally, Zacks Research upgraded AvePoint from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.44.

AvePoint Stock Up 0.2%

Shares of NASDAQ:AVPT opened at $13.24 on Tuesday. The stock has a market cap of $2.81 billion, a PE ratio of 63.05 and a beta of 1.16. The company’s fifty day moving average is $11.08 and its 200 day moving average is $10.99. AvePoint, Inc. has a 52 week low of $8.84 and a 52 week high of $19.95.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $117.24 million for the quarter, compared to analysts’ expectations of $116.43 million. AvePoint had a net margin of 10.55% and a return on equity of 10.52%. Sell-side analysts anticipate that AvePoint, Inc. will post 0.21 EPS for the current year.

About AvePoint

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.