Bank of America Corp DE Increases Holdings in AvePoint, Inc. $AVPT

Key Points

• Bank of America increased its AvePoint stake by 185.8% in the first quarter, acquiring 815,074 additional shares for a total holding of 1.25 million shares valued at approximately $11.9 million. Institutional investors collectively own 44.49% of the company.
• AvePoint reported quarterly earnings of $0.12 per share, exceeding the $0.08 consensus estimate, while revenue of $124.5 million also topped expectations. Shares opened at $13.37, up 1.8%.
• Analyst sentiment remains favorable, with 10 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and an average price target of $16.44 versus the current share price.

Bank of America Corp DE increased its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 185.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,253,662 shares of the company's stock after purchasing an additional 815,074 shares during the quarter. Bank of America Corp DE owned 0.59% of AvePoint worth $11,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. US Bancorp DE lifted its holdings in shares of AvePoint by 11.2% in the 3rd quarter. US Bancorp DE now owns 7,962 shares of the company's stock valued at $120,000 after buying an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AvePoint by 1.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,586 shares of the company's stock worth $786,000 after purchasing an additional 1,016 shares during the period. Blair William & Co. IL increased its holdings in shares of AvePoint by 8.3% during the 4th quarter. Blair William & Co. IL now owns 13,700 shares of the company's stock valued at $190,000 after purchasing an additional 1,050 shares in the last quarter. Xponance LLC increased its holdings in shares of AvePoint by 11.5% during the 4th quarter. Xponance LLC now owns 11,522 shares of the company's stock valued at $160,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in AvePoint by 9.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 14,578 shares of the company's stock valued at $219,000 after buying an additional 1,314 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 5,176 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $13.06, for a total value of $67,598.56. Following the completion of the transaction, the insider directly owned 809,664 shares in the company, valued at approximately $10,574,211.84. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.66% of the company's stock.

Wall Street Analyst Weigh In

AVPT has been the topic of a number of analyst reports. DA Davidson restated a "buy" rating and set a $18.00 target price on shares of AvePoint in a research report on Monday, July 6th. Citigroup reissued a "neutral" rating on shares of AvePoint in a report on Wednesday, August 12th. TD Cowen upped their price objective on shares of AvePoint from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Scotiabank increased their price objective on shares of AvePoint from $12.00 to $15.00 and gave the company a "sector outperform" rating in a report on Friday, August 7th. Finally, Evercore restated an "outperform" rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AvePoint presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.44.

AvePoint Stock Up 1.8%

Shares of NASDAQ:AVPT opened at $13.37 on Friday. AvePoint, Inc. has a 52-week low of $8.84 and a 52-week high of $16.77. The stock has a market cap of $2.83 billion, a P/E ratio of 41.78 and a beta of 1.16. The business has a fifty day moving average of $12.29 and a two-hundred day moving average of $11.00.

AvePoint (NASDAQ:AVPT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The business had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. On average, equities analysts anticipate that AvePoint, Inc. will post 0.25 earnings per share for the current year.

About AvePoint

AvePoint, Inc NASDAQ: AVPT is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint's flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.

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