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

Point72 Asia Singapore Pte. Ltd. acquired a new stake in AvePoint, Inc. (NASDAQ:AVPT) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 24,747 shares of the company’s stock, valued at approximately $258,000.

A number of other large investors also recently bought and sold shares of AVPT. Vanguard Group Inc. increased its stake in shares of AvePoint by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after acquiring an additional 532,371 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in AvePoint by 2,948.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock valued at $5,735,000 after purchasing an additional 532,294 shares in the last quarter. Squarepoint Ops LLC increased its position in AvePoint by 198.2% during the 2nd quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock worth $5,415,000 after purchasing an additional 345,370 shares during the period. Marshall Wace LLP purchased a new position in shares of AvePoint during the 2nd quarter worth approximately $2,881,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of AvePoint in the 1st quarter valued at approximately $1,844,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Price Performance

AVPT opened at $11.79 on Friday. AvePoint, Inc. has a 1-year low of $6.45 and a 1-year high of $12.09. The stock has a market cap of $2.18 billion, a P/E ratio of -147.38 and a beta of 0.89. The stock’s 50 day simple moving average is $11.10 and its 200 day simple moving average is $9.60.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results 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 firm had revenue of $77.96 million during the quarter, compared to analysts’ expectations of $75.17 million. During the same quarter in the prior year, the business earned ($0.07) EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. Research analysts expect that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $10.37, for a total value of $207,400.00. Following the sale, the insider now directly owns 1,297,373 shares in the company, valued at $13,453,758.01. The transaction was disclosed in a document filed 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 the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.90, for a total value of $119,000.00. Following the completion of the transaction, the insider now owns 18,380,673 shares of the company’s stock, valued at approximately $218,730,008.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $10.37, for a total transaction of $207,400.00. Following the sale, the insider now directly owns 1,297,373 shares in the company, valued at $13,453,758.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock worth $1,658,000. 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.