Jennison Associates LLC Decreases Holdings in AvePoint, Inc. $AVPT

Jennison Associates LLC trimmed its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,767,581 shares of the company’s stock after selling 405,699 shares during the period. Jennison Associates LLC owned about 1.75% of AvePoint worth $35,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in AvePoint by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock worth $241,749,000 after buying an additional 195,404 shares during the last quarter. Parsifal Capital Management LP boosted its stake in AvePoint by 61.2% in the third quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock valued at $127,926,000 after acquiring an additional 3,235,384 shares during the last quarter. Morgan Stanley grew its position in shares of AvePoint by 372.6% during the 4th quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock valued at $109,332,000 after acquiring an additional 6,205,829 shares during the period. Geode Capital Management LLC grew 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 acquiring an additional 234,080 shares during the period. Finally, State Street Corp increased its stake 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 worth $46,989,000 after purchasing an additional 300,579 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVPT shares. Scotiabank lowered their price target on shares of AvePoint from $13.00 to $12.00 and set a “sector outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of AvePoint in a report on Wednesday, June 24th. Zacks Research raised AvePoint from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. William Blair restated a “market perform” rating on shares of AvePoint in a research note on Monday, March 23rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.00 price target on shares of AvePoint in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.44.

AvePoint Trading Up 0.2%

Shares of AVPT stock opened at $13.24 on Tuesday. The stock has a market capitalization of $2.81 billion, a P/E ratio of 63.05 and a beta of 1.16. The firm’s 50 day moving average is $11.08 and its 200 day moving average is $10.99. AvePoint, Inc. has a 12 month low of $8.84 and a 12 month high of $19.95.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $117.24 million during 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%. On average, equities analysts predict 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.