Next Century Growth Investors LLC Purchases 353,089 Shares of AvePoint, Inc. $AVPT

Next Century Growth Investors LLC lifted its position in AvePoint, Inc. (NASDAQ:AVPT) by 53.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,019,773 shares of the company’s stock after purchasing an additional 353,089 shares during the quarter. AvePoint accounts for approximately 1.5% of Next Century Growth Investors LLC’s holdings, making the stock its 20th biggest holding. Next Century Growth Investors LLC owned approximately 0.50% of AvePoint worth $19,692,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. boosted its stake in AvePoint by 136.1% in the second quarter. EFG Asset Management North America Corp. now owns 163,066 shares of the company’s stock worth $3,150,000 after purchasing an additional 93,994 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of AvePoint by 6,801.0% in the second quarter. Quantbot Technologies LP now owns 307,026 shares of the company’s stock valued at $5,929,000 after buying an additional 302,577 shares during the last quarter. Okabena Investment Services Inc. bought a new position in shares of AvePoint in the second quarter valued at about $780,000. Jennison Associates LLC lifted its position in AvePoint by 37.0% during the 2nd quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock worth $56,163,000 after buying an additional 786,016 shares in the last quarter. Finally, Petrus Trust Company LTA grew its holdings in AvePoint by 106.1% during the 1st quarter. Petrus Trust Company LTA now owns 34,864 shares of the company’s stock worth $503,000 after acquiring an additional 17,945 shares during the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Trading Up 0.9%

Shares of AvePoint stock opened at $13.62 on Wednesday. The firm has a fifty day moving average of $13.80 and a two-hundred day moving average of $16.12. AvePoint, Inc. has a 52 week low of $11.49 and a 52 week high of $20.25.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). AvePoint had a return on equity of 0.66% and a net margin of 0.55%.The company had revenue of $109.73 million for the quarter, compared to analyst estimates of $105.72 million. Sell-side analysts predict that AvePoint, Inc. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald dropped their target price on shares of AvePoint from $22.50 to $18.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Robert W. Baird assumed coverage on shares of AvePoint in a report on Monday, October 27th. They issued a “neutral” rating and a $17.00 price target for the company. B. Riley initiated coverage on AvePoint in a report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price objective on the stock. Morgan Stanley set a $18.30 target price on AvePoint in a research note on Monday, October 20th. Finally, Scotiabank cut their price target on AvePoint from $22.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.03.

Insider Activity at AvePoint

In related news, Director John Chi On Ho sold 650,000 shares of AvePoint stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the transaction, the director owned 3,732,679 shares of the company’s stock, valued at $56,774,047.59. This trade represents a 14.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Michael Brown sold 1,848 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $15.03, for a total transaction of $27,775.44. Following the completion of the sale, the insider directly owned 631,893 shares of the company’s stock, valued at $9,497,351.79. The trade was a 0.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,720,780 shares of company stock worth $86,945,866 in the last ninety days. Company insiders own 26.19% of the company’s stock.

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.