The Manufacturers Life Insurance Company Has $674,000 Stake in AvePoint, Inc. (NASDAQ:AVPT)

The Manufacturers Life Insurance Company trimmed its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 7.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 64,661 shares of the company’s stock after selling 5,578 shares during the period. The Manufacturers Life Insurance Company’s holdings in AvePoint were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AVPT. Vanguard Group Inc. increased its stake in shares of AvePoint by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after purchasing an additional 532,371 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after buying an additional 227,324 shares during the period. Federated Hermes Inc. increased its holdings in AvePoint by 3.6% during the 2nd quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock worth $9,739,000 after purchasing an additional 32,821 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 121,200 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in AvePoint by 33.7% during the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after purchasing an additional 161,759 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AVPT shares. Northland Securities boosted 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 upped their target price on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th.

Insider Buying and Selling

In other AvePoint 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 transaction of $107,700.00. Following the completion of the sale, the insider now owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 owns 18,460,673 shares in the company, valued at approximately $198,821,448.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Caci sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total value of $327,300.00. Following the transaction, the chief financial officer now owns 630,084 shares in the company, valued at approximately $6,874,216.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,000 shares of company stock worth $1,450,600. Corporate insiders own 27.78% of the company’s stock.

AvePoint Price Performance

NASDAQ:AVPT opened at $12.34 on Tuesday. The company has a market cap of $2.29 billion, a P/E ratio of -154.25 and a beta of 0.89. The stock’s fifty day moving average price is $11.41 and its two-hundred day moving average price is $9.97. AvePoint, Inc. has a 1 year low of $6.96 and a 1 year high of $12.66.

AvePoint (NASDAQ:AVPT) last posted its 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 analysts’ expectations of $75.17 million. During the same quarter in the prior year, the company earned ($0.07) EPS. The company’s revenue was up 20.2% on a year-over-year basis. On average, analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.

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.