Point72 Asia Singapore Pte. Ltd. Purchases New Shares in AvePoint, Inc. (NASDAQ:AVPT)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) 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) 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.