MQS Management LLC Invests $336,000 in AvePoint, Inc. (NASDAQ:AVPT)

MQS Management LLC bought a new stake in AvePoint, Inc. (NASDAQ:AVPT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 32,278 shares of the company’s stock, valued at approximately $336,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of AvePoint by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after buying an additional 532,371 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AvePoint by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after acquiring an additional 227,324 shares during the last quarter. Federated Hermes Inc. raised its position in AvePoint by 3.6% during the second quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after purchasing an additional 32,821 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 121,200 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in AvePoint during the first quarter worth about $1,844,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Price Performance

Shares of AVPT stock opened at $11.94 on Friday. The business has a 50-day moving average of $10.97 and a 200 day moving average of $9.45. AvePoint, Inc. has a 1-year low of $6.41 and a 1-year high of $12.09. The stock has a market capitalization of $2.21 billion, a PE ratio of -149.25 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share 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 company had revenue of $77.96 million for the quarter, compared to analysts’ expectations of $75.17 million. During the same period last year, the company posted ($0.07) EPS. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. Analysts anticipate that AvePoint, Inc. will post -0.07 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVPT shares. Northland Securities raised their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald lifted their price target on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th.

Insider Buying and Selling at AvePoint

In related 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 directly owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, August 19th. The shares were 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 in the company, valued at $198,821,448.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Caci sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at $6,874,216.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,000 shares of company stock worth $1,419,600. 27.78% of the stock is currently owned by company insiders.

AvePoint Company 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.