AQR Capital Management LLC Raises Holdings in AvePoint, Inc. (NASDAQ:AVPT)

AQR Capital Management LLC raised its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 16.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 72,723 shares of the company’s stock after purchasing an additional 10,523 shares during the period. AQR Capital Management LLC’s holdings in AvePoint were worth $758,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of AvePoint by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock worth $119,192,000 after buying an additional 89,564 shares during the last quarter. Sei Investments Co. purchased a new position in shares of AvePoint in the 2nd quarter worth $1,503,000. Acadian Asset Management LLC purchased a new position in AvePoint during the second quarter valued at $2,250,000. Principal Financial Group Inc. lifted its position in AvePoint by 370.3% during the first quarter. Principal Financial Group Inc. now owns 80,697 shares of the company’s stock valued at $639,000 after purchasing an additional 63,538 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in AvePoint by 16.4% during the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock valued at $8,981,000 after purchasing an additional 121,200 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AVPT. Northland Securities raised their price target on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald raised their price target on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th.

AvePoint Price Performance

NASDAQ AVPT opened at $12.50 on Monday. The stock’s fifty day moving average price is $11.36 and its 200 day moving average price is $9.94. AvePoint, Inc. has a 1 year low of $6.96 and a 1 year high of $12.66. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -156.25 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last posted 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 net margin of 4.77% and a negative return on equity of 6.66%. The business had revenue of $77.96 million during the quarter, compared to analysts’ expectations of $75.17 million. During the same period in the previous year, the company posted ($0.07) earnings per share. AvePoint’s revenue for the quarter was up 20.2% compared to the same quarter last year. Research analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Insider Transactions at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.90, for a total transaction of $119,000.00. Following the completion of the transaction, the insider now owns 18,380,673 shares in the company, valued at $218,730,008.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $10.78, for a total value of $215,600.00. Following the completion of the sale, the insider now owns 1,277,373 shares in the company, valued at approximately $13,770,080.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.90, for a total transaction of $119,000.00. Following the completion of the sale, the insider now owns 18,380,673 shares of the company’s stock, valued at approximately $218,730,008.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,000 shares of company stock valued at $1,450,600 in the last ninety days. 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.