Algert Global LLC Acquires New Stake in AvePoint, Inc. (NASDAQ:AVPT)

Algert Global LLC bought a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,107 shares of the company’s stock, valued at approximately $116,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of AvePoint by 0.6% in the fourth 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 in the last quarter. Quadrature Capital Ltd purchased a new position in AvePoint in the 4th quarter worth approximately $148,000. Principal Financial Group Inc. boosted its holdings in shares of AvePoint by 370.3% during the 1st quarter. Principal Financial Group Inc. now owns 80,697 shares of the company’s stock worth $639,000 after purchasing an additional 63,538 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of AvePoint in the first quarter valued at approximately $1,844,000. Finally, SG Americas Securities LLC increased its holdings in shares of 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 purchasing an additional 5,125 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

AVPT stock opened at $12.50 on Friday. The firm has a market cap of $2.32 billion, a PE ratio of -156.25 and a beta of 0.89. AvePoint, Inc. has a one year low of $6.96 and a one year high of $12.66. The firm’s 50 day moving average price is $11.36 and its 200-day moving average price is $9.91.

AvePoint (NASDAQ:AVPT) last posted 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). The business had revenue of $77.96 million during the quarter, compared to analysts’ expectations of $75.17 million. AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. AvePoint’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. Equities research analysts predict that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint 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 directly owns 18,460,673 shares in the company, valued at $198,821,448.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 directly owns 18,460,673 shares in the company, valued at $198,821,448.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $327,300.00. Following the completion of the sale, the chief financial officer now owns 630,084 shares in the company, valued at $6,874,216.44. This represents a 0.00 % decrease in their position. 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 over the last 90 days. 27.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AVPT shares. Northland Securities boosted 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. Cantor Fitzgerald boosted their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th.

About AvePoint

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.