AvePoint, Inc. (NASDAQ:AVPT) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 33.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 641,862 shares of the company’s stock after purchasing an additional 161,759 shares during the period. Millennium Management LLC owned approximately 0.35% of AvePoint worth $6,688,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in shares of AvePoint in the 2nd quarter valued at $83,000. Bayesian Capital Management LP purchased a new stake in AvePoint during the first quarter worth about $130,000. SG Americas Securities LLC increased its stake in AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after purchasing an additional 5,125 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth about $148,000. Finally, nVerses Capital LLC purchased a new position in shares of AvePoint in the second quarter valued at approximately $173,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Stock Up 0.6 %

AVPT stock opened at $12.41 on Friday. The business has a 50 day moving average price of $11.32 and a 200 day moving average price of $9.88. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -155.13 and a beta of 0.89. AvePoint, Inc. has a fifty-two week low of $6.96 and a fifty-two week high of $12.46.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data 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 quarter in the prior year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that AvePoint, Inc. will post -0.07 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.78, for a total value of $215,600.00. Following the transaction, the insider now directly owns 1,277,373 shares in the company, valued at approximately $13,770,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $10.78, for a total transaction 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 $13,770,080.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total transaction of $108,900.00. Following the completion of the transaction, the insider now directly owns 18,440,673 shares in the company, valued at $200,818,928.97. This represents a 0.00 % decrease in their ownership of the stock. 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 in the last three months. 27.78% of the stock is currently owned by company insiders.

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.