Sheets Smith Wealth Management Raises Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Sheets Smith Wealth Management raised its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 64.8% during the third quarter, Holdings Channel.com reports. The firm owned 37,152 shares of the company’s stock after purchasing an additional 14,614 shares during the period. Sheets Smith Wealth Management’s holdings in AvePoint were worth $437,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AVPT. Millennium Management LLC raised its holdings in AvePoint by 33.7% in the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock valued at $6,688,000 after buying an additional 161,759 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of AvePoint in the 3rd quarter valued at approximately $1,404,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of AvePoint in the 2nd quarter worth approximately $548,000. Sei Investments Co. purchased a new position in shares of AvePoint during the 2nd quarter worth approximately $1,503,000. Finally, Acadian Asset Management LLC acquired a new stake in AvePoint in the 2nd quarter valued at approximately $2,250,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

Insider Activity

In related news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction on Monday, August 19th. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the sale, the insider now directly owns 18,460,673 shares in the company, valued at $198,821,448.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 30,000 shares of the 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 sale, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at $6,874,216.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,000 shares of company stock worth $1,724,500. Corporate insiders own 27.78% of the company’s stock.

AvePoint Stock Up 10.5 %

Shares of NASDAQ:AVPT opened at $14.89 on Monday. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $15.64. The firm’s 50 day moving average price is $12.06 and its 200 day moving average price is $10.58. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -186.13 and a beta of 0.88.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data 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 firm had revenue of $77.96 million for the quarter, compared to analysts’ expectations of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. AvePoint’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. On average, equities analysts anticipate that AvePoint, Inc. will post -0.09 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on AVPT shares. Northland Securities raised their price target on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald upped their price objective on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th.

AvePoint 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.