Harvest Fund Management Co. Ltd Purchases New Position in AvePoint, Inc. (NASDAQ:AVPT)

Harvest Fund Management Co. Ltd purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,698 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aigen Investment Management LP acquired a new position in shares of AvePoint during the 3rd quarter worth approximately $68,000. SG Americas Securities LLC acquired a new position in shares of AvePoint during the 4th quarter worth approximately $95,000. Mackenzie Financial Corp acquired a new position in shares of AvePoint during the 3rd quarter worth approximately $108,000. Arete Wealth Advisors LLC grew its position in shares of AvePoint by 21.6% during the 3rd quarter. Arete Wealth Advisors LLC now owns 23,900 shares of the company’s stock worth $161,000 after purchasing an additional 4,250 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of AvePoint by 65.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 25,211 shares of the company’s stock worth $207,000 after acquiring an additional 9,990 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Insider Activity

In other news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $8.11, for a total transaction of $162,200.00. Following the completion of the transaction, the insider now owns 1,286,088 shares of the company’s stock, valued at $10,430,173.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 43,061 shares of company stock valued at $342,288. Insiders own 27.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Evercore ISI increased their price objective on shares of AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Citigroup increased their price objective on shares of AvePoint from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th.

AvePoint Stock Performance

AVPT stock opened at $8.13 on Friday. The company has a fifty day moving average price of $7.85 and a 200-day moving average price of $7.90. The company has a market capitalization of $1.50 billion, a P/E ratio of -67.74 and a beta of 0.85. AvePoint, Inc. has a 52-week low of $4.15 and a 52-week high of $8.61.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $74.60 million for the quarter, compared to the consensus estimate of $71.57 million. AvePoint had a negative net margin of 7.94% and a negative return on equity of 9.94%. AvePoint’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. As a group, sell-side analysts forecast that AvePoint, Inc. will post -0.15 earnings per share for the current fiscal year.

About AvePoint

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.