Isthmus Partners LLC Makes New $2.52 Million Investment in AvePoint, Inc. $AVPT

Key Points

• Isthmus Partners LLC acquired 178,856 AvePoint shares worth approximately $2.52 million in the third quarter, while institutional investors collectively own 44.49% of the company.
• AvePoint shares rose 2.3% to $16.08, near their 12-month high of $16.11. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.12 EPS and $124.5 million in revenue.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $16.25 target price, although insiders sold 205,000 shares worth nearly $3.0 million over the last quarter.

Isthmus Partners LLC purchased a new stake in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 178,856 shares of the company's stock, valued at approximately $2,518,000. Isthmus Partners LLC owned 0.08% of AvePoint as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AVPT. PNC Financial Services Group Inc. boosted its stake in AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company's stock valued at $28,000 after purchasing an additional 2,689 shares during the period. GAMMA Investing LLC increased its stake in shares of AvePoint by 26.6% in the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company's stock valued at $43,000 after purchasing an additional 802 shares during the period. Allworth Financial LP increased its stake in shares of AvePoint by 109.6% in the second quarter. Allworth Financial LP now owns 5,065 shares of the company's stock valued at $57,000 after purchasing an additional 2,649 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of AvePoint by 42.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,983 shares of the company's stock valued at $84,000 after purchasing an additional 1,782 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company's stock valued at $90,000 after buying an additional 1,701 shares during the last quarter. Institutional investors own 44.49% of the company's stock.

Insider Buying and Selling

In other AvePoint news, insider Brian Brown sold 72,606 shares of the company's stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $15.26, for a total value of $1,107,967.56. Following the completion of the sale, the insider directly owned 259,604 shares in the company, valued at $3,961,557.04. This represents a 21.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 205,000 shares of company stock worth $2,986,408 over the last quarter. 22.66% of the stock is owned by insiders.

AvePoint Trading Up 2.3%

Shares of NASDAQ:AVPT opened at $16.08 on Friday. The company has a 50 day moving average of $13.79 and a 200-day moving average of $12.08. The firm has a market cap of $3.40 billion, a P/E ratio of 50.25 and a beta of 1.17. AvePoint, Inc. has a twelve month low of $8.84 and a twelve month high of $16.11.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVPT shares. Stephens boosted their price objective on AvePoint from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Monday, September 21st. Phillip Securities raised AvePoint to a "moderate buy" rating in a research note on Monday, October 5th. Wall Street Zen lowered AvePoint from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. Citigroup reiterated a "neutral" rating on shares of AvePoint in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and six have given 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 $16.25.

AvePoint Company Profile

AvePoint, Inc NASDAQ: AVPT is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company's product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.

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