AvePoint, Inc. (NASDAQ:AVPT) Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 861,900 shares of the company’s stock after buying an additional 121,200 shares during the period. Renaissance Technologies LLC owned approximately 0.47% of AvePoint worth $8,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AVPT. Dimensional Fund Advisors LP increased its holdings in shares of AvePoint by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after purchasing an additional 227,324 shares during the period. Federated Hermes Inc. increased its stake in AvePoint by 3.6% in the 2nd quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after buying an additional 32,821 shares during the period. Quest Partners LLC purchased a new stake in AvePoint in the 2nd quarter worth approximately $434,000. Acadian Asset Management LLC acquired a new stake in shares of AvePoint during the 2nd quarter valued at $2,250,000. Finally, nVerses Capital LLC purchased a new position in shares of AvePoint during the 2nd quarter valued at $173,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Northland Securities increased their price objective on 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 target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th.

AvePoint Trading Up 1.2 %

AVPT stock opened at $11.74 on Wednesday. The firm has a market cap of $2.18 billion, a PE ratio of -146.75 and a beta of 0.89. AvePoint, Inc. has a 1 year low of $6.41 and a 1 year high of $12.09. The company has a fifty day simple moving average of $11.05 and a 200 day simple moving average of $9.57.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $75.17 million. During the same quarter last year, the company posted ($0.07) EPS. The business’s revenue was up 20.2% compared to the same quarter last year. As a group, analysts forecast that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at AvePoint

In related news, 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 transaction 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 approximately $13,453,758.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated 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 in the company, valued at $198,821,448.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $10.37, for a total value of $207,400.00. Following the transaction, the insider now directly 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. Insiders have sold a total of 150,000 shares of company stock worth $1,658,000 over the last 90 days. Insiders own 27.78% of the company’s stock.

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.