Prudential PLC Buys Shares of 1,773,740 AvePoint, Inc. $AVPT

Prudential PLC purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) during the third quarter, Holdings Channel reports. The fund purchased 1,773,740 shares of the company’s stock, valued at approximately $26,824,000.

A number of other institutional investors have also modified their holdings of AVPT. Global Retirement Partners LLC purchased a new stake in shares of AvePoint in the 3rd quarter valued at $26,000. Aster Capital Management DIFC Ltd boosted its holdings in AvePoint by 698.8% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,069 shares of the company’s stock valued at $31,000 after acquiring an additional 1,810 shares during the period. Advisors Asset Management Inc. boosted its holdings in AvePoint by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock valued at $44,000 after acquiring an additional 919 shares during the period. Vestcor Inc acquired a new position in AvePoint in the 3rd quarter valued at about $45,000. Finally, RiverPark Advisors LLC acquired a new position in AvePoint in the 2nd quarter valued at about $103,000. 44.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AvePoint

In related news, Chairman Xunkai Gong sold 32,002 shares of AvePoint stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $13.66, for a total value of $437,147.32. Following the completion of the transaction, the chairman owned 14,948,666 shares in the company, valued at $204,198,777.56. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVPT has been the topic of several research reports. Citigroup reduced their price target on shares of AvePoint from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. Cantor Fitzgerald dropped their price objective on shares of AvePoint from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, February 27th. B. Riley Financial cut their target price on shares of AvePoint from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Jefferies Financial Group reduced their target price on shares of AvePoint from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, TD Cowen decreased their price target on shares of AvePoint from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, AvePoint has an average rating of “Moderate Buy” and a consensus target price of $17.11.

AvePoint Price Performance

AVPT stock opened at $10.43 on Friday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 65.19 and a beta of 1.12. The business’s 50-day moving average is $11.54 and its two-hundred day moving average is $13.37. AvePoint, Inc. has a 1 year low of $9.85 and a 1 year high of $20.25.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). AvePoint had a net margin of 8.34% and a return on equity of 8.19%. The company had revenue of $114.69 million during the quarter, compared to analysts’ expectations of $110.94 million. On average, analysts expect that AvePoint, Inc. will post -0.03 EPS for the current year.

AvePoint Profile

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.