Algert Global LLC Makes New $116,000 Investment in AvePoint, Inc. (NASDAQ:AVPT)

Algert Global LLC acquired a new position in AvePoint, Inc. (NASDAQ:AVPT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,107 shares of the company’s stock, valued at approximately $116,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVPT. Canada Pension Plan Investment Board acquired a new stake in AvePoint in the second quarter worth about $83,000. Bayesian Capital Management LP purchased a new stake in AvePoint during the 1st quarter worth approximately $130,000. SG Americas Securities LLC increased its stake in AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after purchasing an additional 5,125 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of AvePoint in the fourth quarter worth $148,000. Finally, nVerses Capital LLC acquired a new stake in shares of AvePoint during the second quarter worth $173,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Price Performance

Shares of AvePoint stock opened at $12.50 on Friday. AvePoint, Inc. has a 1 year low of $6.96 and a 1 year high of $12.66. The stock has a market cap of $2.32 billion, a PE ratio of -156.25 and a beta of 0.89. The firm has a fifty day moving average price of $11.36 and a 200 day moving average price of $9.91.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVPT shares. Cantor Fitzgerald raised their target price 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 raised their price objective on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th.

Insider Activity

In related news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.94, for a total value of $119,400.00. Following the completion of the transaction, the insider now directly owns 18,390,673 shares in the company, valued at $219,584,635.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the firm’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 value of $215,600.00. Following the sale, the insider now directly owns 1,277,373 shares of the company’s stock, valued at approximately $13,770,080.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.94, for a total value of $119,400.00. Following the transaction, the insider now directly owns 18,390,673 shares of the company’s stock, valued at approximately $219,584,635.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,000 shares of company stock valued at $1,450,600 in the last three months. 27.78% of the stock is currently owned by corporate 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.