Squarepoint Ops LLC Has $5.04 Million Position in AvePoint, Inc. $AVPT

Squarepoint Ops LLC cut its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 17.1% during the second quarter, Holdings Channel.com reports. The fund owned 449,555 shares of the company’s stock after selling 93,008 shares during the period. Squarepoint Ops LLC’s holdings in AvePoint were worth $5,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVPT. Parsifal Capital Management LP lifted its stake 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 valued at $127,926,000 after purchasing an additional 3,235,384 shares during the period. Morgan Stanley increased its holdings in AvePoint by 372.6% in the fourth quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock valued at $109,332,000 after purchasing an additional 6,205,829 shares during the last quarter. Geode Capital Management LLC increased its holdings in AvePoint by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 3,643,473 shares of the company’s stock valued at $50,614,000 after purchasing an additional 234,080 shares during the last quarter. State Street Corp lifted its stake in AvePoint by 9.8% in the fourth 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 during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in AvePoint by 25.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after buying an additional 666,422 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

Shares of AVPT stock opened at $12.66 on Friday. AvePoint, Inc. has a 52 week low of $8.84 and a 52 week high of $16.09. The company’s 50 day moving average price is $13.07 and its two-hundred day moving average price is $11.29. The company has a market capitalization of $2.68 billion, a P/E ratio of 39.56 and a beta of 1.19.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. The company had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. Analysts forecast that AvePoint, Inc. will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AVPT. Zacks Research cut AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. TD Cowen lifted their price objective on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. DA Davidson reaffirmed a “buy” rating and issued a $18.00 target price on shares of AvePoint in a research note on Monday, July 6th. Weiss Ratings raised shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Citigroup restated a “neutral” rating on shares of AvePoint in a research report on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, AvePoint has a consensus rating of “Moderate Buy” and an average target price of $16.44.

Insiders Place Their Bets

In other AvePoint news, insider Brian Brown sold 60,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was 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 approximately $5,461,376.80. This represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 80,000 shares of company stock valued at $1,115,696. 22.66% of the stock is currently owned by corporate insiders.

AvePoint Company Profile

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company’s product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.