Acadian Asset Management LLC Takes Position in AvePoint, Inc. (NASDAQ:AVPT)

Acadian Asset Management LLC purchased a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 216,204 shares of the company’s stock, valued at approximately $2,250,000. Acadian Asset Management LLC owned approximately 0.12% of AvePoint as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVPT. ProShare Advisors LLC boosted its holdings in shares of AvePoint by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock valued at $268,000 after buying an additional 3,749 shares in the last quarter. SG Americas Securities LLC lifted its position in AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after acquiring an additional 5,125 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in AvePoint by 14.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company’s stock worth $337,000 after acquiring an additional 5,316 shares in the last quarter. Principal Financial Group Inc. grew its holdings in AvePoint by 7.5% in the second quarter. Principal Financial Group Inc. now owns 86,724 shares of the company’s stock worth $904,000 after purchasing an additional 6,027 shares during the period. Finally, Swiss National Bank increased its stake in shares of AvePoint by 5.9% during the fourth quarter. Swiss National Bank now owns 219,200 shares of the company’s stock valued at $1,800,000 after purchasing an additional 12,300 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AvePoint

In other news, CFO James Caci sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at $6,874,216.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO James Caci sold 30,000 shares of AvePoint stock in a transaction on Tuesday, August 20th. The stock was 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 of the company’s stock, valued at $6,874,216.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the company’s 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 sale, the insider now owns 1,297,373 shares of the company’s stock, valued at approximately $13,453,758.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,000 shares of company stock worth $1,183,200. Company insiders own 27.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AVPT. Northland Securities boosted their price target on 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 target price on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th.

AvePoint Stock Up 0.9 %

Shares of NASDAQ AVPT opened at $11.90 on Friday. The firm has a market cap of $2.22 billion, a P/E ratio of -148.75 and a beta of 0.89. AvePoint, Inc. has a twelve month low of $6.41 and a twelve month high of $12.00. The company has a 50 day moving average of $10.84 and a 200 day moving average of $9.35.

AvePoint (NASDAQ:AVPT) last posted its quarterly 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 business 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 firm earned ($0.07) EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.

AvePoint 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.