Squarepoint Ops LLC Has $5.42 Million Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Squarepoint Ops LLC lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 198.2% in the second quarter, Holdings Channel.com reports. The fund owned 519,642 shares of the company’s stock after purchasing an additional 345,370 shares during the quarter. Squarepoint Ops LLC’s holdings in AvePoint were worth $5,415,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new position in AvePoint in the second quarter worth about $83,000. Bayesian Capital Management LP acquired a new position in shares of AvePoint in the 1st quarter worth approximately $130,000. nVerses Capital LLC bought a new position in shares of AvePoint during the 2nd quarter worth approximately $173,000. SG Americas Securities LLC boosted its stake in AvePoint by 44.2% in the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after buying an additional 5,125 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in AvePoint in the 4th quarter valued at $148,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Northland Securities lifted their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald upped their price objective on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th.

AvePoint Stock Performance

AvePoint stock opened at $11.77 on Tuesday. The business’s fifty day moving average is $11.14 and its two-hundred day moving average is $9.68. The firm has a market cap of $2.18 billion, a P/E ratio of -147.13 and a beta of 0.89. AvePoint, Inc. has a 52 week low of $6.45 and a 52 week high of $12.09.

AvePoint (NASDAQ:AVPT) last issued 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). The company had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. On average, equities research analysts predict that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Insider Activity

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

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.