Connor Clark & Lunn Investment Management Ltd. Cuts Holdings in AvePoint, Inc. $AVPT

Connor Clark & Lunn Investment Management Ltd. decreased its position in AvePoint, Inc. (NASDAQ:AVPT) by 8.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 160,231 shares of the company’s stock after selling 14,623 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AvePoint were worth $3,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of AvePoint by 5.3% in the first quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company’s stock valued at $97,769,000 after acquiring an additional 340,509 shares in the last quarter. Parsifal Capital Management LP grew its stake in AvePoint by 130.3% in the 1st quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock valued at $73,366,000 after purchasing an additional 2,874,842 shares during the period. Jennison Associates LLC increased its position in shares of AvePoint by 37.0% during the 2nd quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock valued at $56,163,000 after purchasing an additional 786,016 shares during the last quarter. Millennium Management LLC raised its stake in shares of AvePoint by 104.3% during the 1st quarter. Millennium Management LLC now owns 2,058,092 shares of the company’s stock worth $29,719,000 after purchasing an additional 1,050,500 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of AvePoint by 112.8% in the 1st quarter. Invesco Ltd. now owns 1,678,190 shares of the company’s stock worth $24,233,000 after buying an additional 889,671 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVPT shares. Morgan Stanley set a $18.30 price objective on shares of AvePoint in a report on Monday, October 20th. Evercore ISI decreased their price target on shares of AvePoint from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Wall Street Zen upgraded AvePoint from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of AvePoint in a report on Wednesday, October 8th. Finally, Scotiabank lowered their target price on AvePoint from $22.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.03.

AvePoint Trading Up 0.2%

Shares of NASDAQ AVPT opened at $13.02 on Friday. The stock has a fifty day moving average of $14.72 and a 200-day moving average of $16.76. AvePoint, Inc. has a fifty-two week low of $11.49 and a fifty-two week high of $20.25.

AvePoint (NASDAQ:AVPT) last issued its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). AvePoint had a return on equity of 0.66% and a net margin of 0.55%.The company had revenue of $109.73 million during the quarter, compared to the consensus estimate of $105.72 million. AvePoint has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that AvePoint, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Activity at AvePoint

In related news, Director John Chi On Ho sold 650,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the sale, the director owned 3,732,679 shares of the company’s stock, valued at approximately $56,774,047.59. This represents a 14.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Michael Brown sold 500,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $7,605,000.00. Following the completion of the transaction, the insider directly owned 640,288 shares of the company’s stock, valued at approximately $9,738,780.48. The trade was a 43.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,755,780 shares of company stock valued at $87,487,316 in the last quarter. 26.19% of the stock is currently owned by company insiders.

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.