Marshall Wace LLP Buys Shares of 276,487 AvePoint, Inc. (NASDAQ:AVPT)

Marshall Wace LLP bought a new stake in AvePoint, Inc. (NASDAQ:AVPT) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 276,487 shares of the company’s stock, valued at approximately $2,881,000.

A number of other hedge funds also recently added to or reduced their stakes in AVPT. CenterBook Partners LP purchased a new position in AvePoint in the fourth quarter valued at about $1,097,000. Vanguard Group Inc. increased its stake in shares of AvePoint by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock worth $119,192,000 after purchasing an additional 89,564 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of AvePoint during the 4th quarter worth approximately $148,000. Principal Financial Group Inc. increased its stake in shares of AvePoint by 370.3% during the 1st quarter. Principal Financial Group Inc. now owns 80,697 shares of the company’s stock worth $639,000 after purchasing an additional 63,538 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of AvePoint during the 1st quarter worth approximately $1,844,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $11.59 on Friday. AvePoint, Inc. has a 1 year low of $6.47 and a 1 year high of $12.09. The firm’s 50 day moving average price is $11.18 and its 200 day moving average price is $9.72. The firm has a market cap of $2.15 billion, a P/E ratio of -144.88 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) 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 quarter last year, the business posted ($0.07) EPS. The firm’s revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts predict that AvePoint, Inc. will post -0.07 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVPT. Cantor Fitzgerald raised 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. Northland Securities raised their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th.

Insider Buying and Selling at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Thursday, August 1st. The shares were 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 in the company, valued at approximately $13,770,080.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AvePoint news, CFO James Caci sold 30,000 shares of AvePoint stock in a transaction 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 transaction, the chief financial officer now owns 630,084 shares in the company, valued at approximately $6,874,216.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.78, for a total transaction of $215,600.00. Following the transaction, the insider now owns 1,277,373 shares in the company, valued at approximately $13,770,080.94. The disclosure for this sale can be found here. Insiders have sold a total of 130,000 shares of company stock worth $1,450,600 in the last quarter. 27.78% of the stock is owned by 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.