Bank of New York Mellon Corp Makes New Investment in AvePoint, Inc. $AVPT

Key Points

• Bank of New York Mellon initiated a position in AvePoint during the second quarter, buying 789,255 shares valued at approximately $8.85 million. Institutional investors collectively own 44.49% of the company.
• AvePoint exceeded quarterly expectations, reporting earnings of $0.12 per share versus the $0.08 consensus estimate and revenue of $124.5 million versus $121.38 million expected.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $16.44, compared with the stock’s reported price of $13.35. An insider also sold 60,000 shares under a pre-arranged trading plan.

Bank of New York Mellon Corp bought a new position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 789,255 shares of the company's stock, valued at approximately $8,848,000. Bank of New York Mellon Corp owned approximately 0.37% of AvePoint at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AVPT. AQR Capital Management LLC grew its position in AvePoint by 118.5% in the 1st quarter. AQR Capital Management LLC now owns 323,055 shares of the company's stock worth $4,665,000 after purchasing an additional 175,194 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AvePoint by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,639 shares of the company's stock valued at $1,107,000 after buying an additional 3,340 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of AvePoint during the 1st quarter worth approximately $276,000. Goldman Sachs Group Inc. lifted its position in shares of AvePoint by 11.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 759,647 shares of the company's stock worth $10,969,000 after buying an additional 76,403 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of AvePoint in the 1st quarter worth approximately $737,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Price Performance

NASDAQ:AVPT opened at $13.35 on Thursday. The company has a market cap of $2.82 billion, a P/E ratio of 41.72 and a beta of 1.19. The stock's fifty day moving average price is $12.78 and its two-hundred day moving average price is $11.17. AvePoint, Inc. has a 1 year low of $8.84 and a 1 year high of $16.77.

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

Analysts Set New Price Targets

A number of analysts recently commented on AVPT shares. DA Davidson reaffirmed a "buy" rating and set a $18.00 price target on shares of AvePoint in a research report on Monday, July 6th. Evercore reissued an "outperform" rating and issued a $16.00 price objective on shares of AvePoint in a research report on Friday, August 7th. Weiss Ratings upgraded AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Scotiabank raised their target price on AvePoint from $12.00 to $15.00 and gave the company a "sector outperform" rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $14.00 target price on shares of AvePoint in a research note on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.44.

Insider Activity

In other news, insider Brian Michael Brown sold 60,000 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total value of $852,000.00. Following the completion of the transaction, the insider directly owned 384,604 shares in the company, valued at approximately $5,461,376.80. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 80,000 shares of company stock valued at $1,115,696 over the last quarter. Corporate insiders own 22.66% of the company's stock.

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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