nVerses Capital LLC Acquires New Position in AvePoint, Inc. (NASDAQ:AVPT)

nVerses Capital LLC bought a new position in AvePoint, Inc. (NASDAQ:AVPT) during the second quarter, Holdings Channel.com reports. The institutional investor bought 16,600 shares of the company’s stock, valued at approximately $173,000.

Other institutional investors have also bought and sold shares of the company. Bayesian Capital Management LP acquired a new stake in shares of AvePoint in the first quarter valued at approximately $130,000. SG Americas Securities LLC increased its stake in shares of AvePoint by 44.2% in the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after acquiring an additional 5,125 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of AvePoint in the 4th quarter worth $148,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of AvePoint during the 4th quarter worth $158,000. Finally, Moran Wealth Management LLC acquired a new position in shares of AvePoint during the 4th quarter valued at about $213,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVPT has been the subject of several recent analyst reports. Northland Securities raised their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald increased their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th.

Insider Transactions at AvePoint

In related news, CFO James Caci sold 30,000 shares of AvePoint stock in a transaction that occurred 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 approximately $6,874,216.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James Caci sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at $6,874,216.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction 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 completion of the sale, the insider now directly owns 1,297,373 shares of the company’s stock, valued at $13,453,758.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $1,183,200. 27.78% of the stock is currently owned by insiders.

AvePoint Trading Up 0.6 %

NASDAQ AVPT opened at $11.55 on Monday. The stock has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $9.10. The stock has a market cap of $2.14 billion, a PE ratio of -144.38 and a beta of 0.89. AvePoint, Inc. has a twelve month low of $6.41 and a twelve month high of $11.96.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 last 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 predict that AvePoint, Inc. will post -0.07 EPS for the current year.

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.