The Manufacturers Life Insurance Company Has $1.13 Million Holdings in AvePoint, Inc. (NASDAQ:AVPT)

The Manufacturers Life Insurance Company cut its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,288 shares of the company’s stock after selling 1,725 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AvePoint were worth $1,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVPT. Vanguard Group Inc. lifted its stake in AvePoint by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock worth $252,276,000 after acquiring an additional 150,885 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of AvePoint by 56.9% in the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock valued at $106,163,000 after purchasing an additional 2,332,813 shares during the period. Geode Capital Management LLC lifted its position in shares of AvePoint by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock worth $47,067,000 after purchasing an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after purchasing an additional 2,276,258 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AvePoint by 7.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company’s stock worth $27,370,000 after purchasing an additional 121,144 shares during the period. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $528,850.00. Following the transaction, the insider now directly owns 1,312,145 shares of the company’s stock, valued at approximately $19,826,510.95. This trade represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 26.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVPT has been the topic of several research reports. William Blair reiterated an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. The Goldman Sachs Group upped their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday. Citigroup reduced their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Scotiabank upped their target price on AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

AvePoint Stock Up 5.8%

AVPT stock opened at $19.99 on Wednesday. The firm has a 50 day moving average of $15.24 and a two-hundred day moving average of $16.46. AvePoint, Inc. has a 12 month low of $8.15 and a 12 month high of $20.25. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -399.72 and a beta of 1.30.

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.