SG Americas Securities LLC Has $270,000 Position in AvePoint, Inc. (NASDAQ:AVPT)

SG Americas Securities LLC cut its stake in shares of AvePoint, Inc. (NASDAQ:AVPT) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,919 shares of the company’s stock after selling 1,030 shares during the quarter. SG Americas Securities LLC’s holdings in AvePoint were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ProShare Advisors LLC lifted its stake in shares of AvePoint by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock valued at $268,000 after purchasing an additional 3,749 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of AvePoint by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company’s stock valued at $337,000 after purchasing an additional 5,316 shares during the period. Principal Financial Group Inc. lifted its stake in shares of AvePoint by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 86,724 shares of the company’s stock valued at $904,000 after purchasing an additional 6,027 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint in the 2nd quarter valued at about $83,000. Finally, AQR Capital Management LLC lifted its stake in shares of AvePoint by 16.9% in the 2nd quarter. AQR Capital Management LLC now owns 72,723 shares of the company’s stock valued at $758,000 after purchasing an additional 10,523 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AvePoint Stock Performance

AVPT stock opened at $12.14 on Monday. The stock’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $10.10. AvePoint, Inc. has a fifty-two week low of $6.96 and a fifty-two week high of $12.66. The company has a market cap of $2.25 billion, a P/E ratio of -151.75 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. During the same period last year, the company posted ($0.07) earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts predict that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the business’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 transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’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 transaction, the insider now directly owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total value of $327,300.00. Following the completion of the transaction, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at approximately $6,874,216.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,000 shares of company stock valued at $1,696,700. Corporate insiders own 27.78% of the company’s stock.

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.