AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by nVerses Capital LLC

nVerses Capital LLC cut its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 54.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the company’s stock after selling 9,100 shares during the period. nVerses Capital LLC’s holdings in AvePoint were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new position in AvePoint in the second quarter valued at $83,000. Algert Global LLC purchased a new position in AvePoint in the second quarter valued at $116,000. Bayesian Capital Management LP purchased a new position in AvePoint in the first quarter valued at $130,000. SG Americas Securities LLC increased its holdings in AvePoint by 44.2% in 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 in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in AvePoint in the fourth quarter valued at $148,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Stock Down 0.3 %

AVPT stock opened at $12.14 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -151.75 and a beta of 0.89. The firm has a 50-day simple moving average of $11.59 and a 200-day simple moving average of $10.10. AvePoint, Inc. has a 52 week low of $6.96 and a 52 week high of $12.66.

AvePoint (NASDAQ:AVPT) last released its earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $77.96 million for the quarter, compared to analysts’ expectations of $75.17 million. During the same period in the prior year, the firm earned ($0.07) EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on AVPT. Northland Securities lifted their price objective on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald boosted their target price 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 Activity at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 18,460,673 shares of the company’s stock, valued at approximately $198,821,448.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the business’s 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 transaction, the insider now directly owns 1,277,373 shares in the company, valued at $13,770,080.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $198,821,448.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,000 shares of company stock valued at $1,696,700. Corporate insiders own 27.78% of the company’s stock.

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.