Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,747 shares of the company’s stock, valued at approximately $258,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in shares of AvePoint in the second quarter valued at approximately $83,000. Algert Global LLC bought a new stake in shares of AvePoint during the 2nd quarter worth $116,000. Bayesian Capital Management LP bought a new stake in shares of AvePoint during the 1st quarter worth $130,000. nVerses Capital LLC purchased a new position in shares of AvePoint in the 2nd quarter worth about $173,000. Finally, SG Americas Securities LLC grew its position in AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after buying an additional 5,125 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Northland Securities boosted their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald upped their price objective on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th.
AvePoint Stock Down 2.0 %
AVPT opened at $11.54 on Wednesday. The firm has a 50-day moving average price of $11.16 and a 200-day moving average price of $9.71. AvePoint, Inc. has a twelve month low of $6.45 and a twelve month high of $12.09. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -144.25 and a beta of 0.89.
AvePoint (NASDAQ:AVPT – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. The business had revenue of $77.96 million for the quarter, compared to the consensus estimate of $75.17 million. During the same period in the previous year, the firm earned ($0.07) EPS. The company’s revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the completion of the transaction, the insider now owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the sale, the insider now owns 18,460,673 shares of the company’s stock, valued at approximately $198,821,448.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $10.78, for a total transaction of $215,600.00. Following the completion of the transaction, the insider now directly owns 1,277,373 shares of the company’s stock, valued at approximately $13,770,080.94. The disclosure for this sale can be found here. Insiders sold a total of 130,000 shares of company stock worth $1,450,600 in the last quarter. 27.78% of the stock is owned by company insiders.
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.
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