ProShare Advisors LLC Reduces Stake in AvePoint, Inc. (NASDAQ:AVPT)

ProShare Advisors LLC lessened its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 6.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 31,816 shares of the company’s stock after selling 2,041 shares during the quarter. ProShare Advisors LLC’s holdings in AvePoint were worth $332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in AvePoint by 0.6% during the 4th 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 during the last quarter. Acadian Asset Management LLC purchased a new position in AvePoint during the 2nd quarter worth approximately $2,250,000. Principal Financial Group Inc. grew its stake in 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 buying an additional 63,538 shares during the last quarter. CenterBook Partners LP purchased a new position in AvePoint during the 4th quarter worth approximately $1,097,000. Finally, Renaissance Technologies LLC grew its stake in AvePoint by 16.4% during the 2nd quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock worth $8,981,000 after buying an additional 121,200 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AVPT has been the topic of a number of research reports. Cantor Fitzgerald raised their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Northland Securities lifted their target price on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th.

Insider Activity

In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the sale, the insider now directly owns 18,460,673 shares of the company’s stock, valued at approximately $198,821,448.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $10.78, for a total value of $215,600.00. Following the completion of the sale, the insider now directly owns 1,277,373 shares of the company’s stock, valued at approximately $13,770,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the transaction, the insider now directly owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The disclosure for this sale can be found here. Insiders sold 130,000 shares of company stock valued at $1,450,600 in the last three months. 27.78% of the stock is currently owned by company insiders.

AvePoint Trading Up 0.4 %

Shares of AVPT stock opened at $11.59 on Thursday. The business’s 50 day moving average is $11.18 and its two-hundred day moving average is $9.72. AvePoint, Inc. has a twelve month low of $6.45 and a twelve month high of $12.09. The company has a market capitalization of $2.15 billion, a P/E ratio of -144.88 and a beta of 0.89.

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). The company 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%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, equities analysts predict that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.

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.