Odyssean LLC Boosts Stock Position in AvePoint, Inc. $AVPT

Key Points

• Odyssean LLC more than doubled its AvePoint stake in the second quarter, increasing holdings by 106.2% to 273,488 shares valued at approximately $3.07 million. Institutional investors collectively own 44.49% of the company.
• AvePoint exceeded quarterly expectations, reporting $0.12 in earnings per share versus an $0.08 consensus estimate and revenue of $124.5 million, ahead of the $121.38 million forecast.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $16.44, although some firms recently downgraded the stock to “Hold.” Shares recently traded at $13.07.

Odyssean LLC lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 106.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,488 shares of the company's stock after buying an additional 140,867 shares during the quarter. Odyssean LLC owned approximately 0.13% of AvePoint worth $3,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVPT. PNC Financial Services Group Inc. increased its holdings in AvePoint by 933.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company's stock worth $28,000 after acquiring an additional 2,689 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in AvePoint during the fourth quarter worth $28,000. GAMMA Investing LLC lifted its holdings in AvePoint by 26.6% during 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 in the last quarter. Vestcor Inc purchased a new position in AvePoint during the third quarter valued at $45,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of AvePoint in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Stock Down 1.3%

AvePoint stock opened at $13.07 on Wednesday. The company has a fifty day simple moving average of $12.38 and a 200-day simple moving average of $11.03. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 40.85 and a beta of 1.16. AvePoint, Inc. has a 52-week low of $8.84 and a 52-week high of $16.77.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Scotiabank boosted their target price on shares of AvePoint from $12.00 to $15.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 7th. Zacks Research lowered shares of AvePoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. DA Davidson reiterated a "buy" rating and issued a $18.00 price objective on shares of AvePoint in a report on Monday, July 6th. Wall Street Zen lowered AvePoint from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, AvePoint has a consensus rating of "Moderate Buy" and an average price target of $16.44.

Insider Buying and Selling

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

AvePoint Profile

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.

Want to see what other hedge funds are holding AVPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AvePoint, Inc. (NASDAQ:AVPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source