49,376 Shares in AvePoint, Inc. (NASDAQ:AVPT) Bought by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp bought a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 49,376 shares of the company’s stock, valued at approximately $514,000.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. purchased a new stake in shares of AvePoint during the second quarter worth $1,503,000. Canada Pension Plan Investment Board acquired a new stake in shares of AvePoint in the 2nd quarter valued at $83,000. MQS Management LLC bought a new stake in AvePoint in the second quarter worth $336,000. Renaissance Technologies LLC increased its position in AvePoint by 16.4% during the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock worth $8,981,000 after buying an additional 121,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in AvePoint by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after buying an additional 227,324 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVPT shares. Cantor Fitzgerald upped their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Northland Securities upped their target price on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 owns 1,277,373 shares of the company’s stock, valued at $13,770,080.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total transaction of $108,900.00. Following the sale, the insider now owns 18,440,673 shares in the company, valued at $200,818,928.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.78, for a total transaction of $215,600.00. Following the completion of the sale, the insider now directly owns 1,277,373 shares in the company, 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 valued at $1,419,600 in the last ninety days. Company insiders own 27.78% of the company’s stock.

AvePoint Stock Performance

AvePoint stock opened at $11.94 on Monday. AvePoint, Inc. has a 52 week low of $6.41 and a 52 week high of $12.09. The firm has a market capitalization of $2.21 billion, a PE ratio of -149.25 and a beta of 0.89. The business’s 50-day simple moving average is $11.01 and its 200-day simple moving average is $9.51.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The business had revenue of $77.96 million during the quarter, compared to the consensus estimate of $75.17 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis. Research analysts forecast that AvePoint, Inc. will post -0.07 earnings per share for the current 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.