Wellington Management Group LLP Acquires 1,433,299 Shares of AvePoint, Inc. $AVPT

Wellington Management Group LLP grew its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 106.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,776,579 shares of the company’s stock after purchasing an additional 1,433,299 shares during the quarter. Wellington Management Group LLP’s holdings in AvePoint were worth $31,125,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in AvePoint during the 2nd quarter valued at about $8,848,000. Handelsbanken Fonder AB increased its position in shares of AvePoint by 43.4% during the second quarter. Handelsbanken Fonder AB now owns 44,300 shares of the company’s stock worth $497,000 after acquiring an additional 13,400 shares during the period. GAMMA Investing LLC raised its stake in shares of AvePoint by 26.6% during the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after acquiring an additional 802 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock valued at $90,000 after acquiring an additional 1,701 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of AvePoint by 25.8% in the first quarter. Pacer Advisors Inc. now owns 26,892 shares of the company’s stock valued at $256,000 after purchasing an additional 5,511 shares during the period. 44.49% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brian Brown sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the transaction, the insider owned 384,604 shares in the company, valued at $5,461,376.80. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 80,000 shares of company stock valued at $1,115,696. 22.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a research report on Wednesday, August 12th. Zacks Research lowered AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Evercore restated an “outperform” rating and issued a $16.00 price objective on shares of AvePoint in a report on Friday, August 7th. Scotiabank upped their price objective on shares of AvePoint from $12.00 to $15.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of AvePoint from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.44.

AvePoint Trading Down 1.0%

Shares of NASDAQ:AVPT opened at $13.43 on Friday. The company has a market capitalization of $2.84 billion, a PE ratio of 41.97 and a beta of 1.19. AvePoint, Inc. has a 12-month low of $8.84 and a 12-month high of $16.77. The business’s fifty day simple moving average is $12.90 and its 200-day simple moving average is $11.20.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. AvePoint had a return on equity of 15.97% and a net margin of 15.33%.The firm had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. Research analysts predict that AvePoint, Inc. will post 0.25 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.