Renaissance Technologies LLC Buys 363,200 Shares of AvePoint, Inc. $AVPT

Key Points

• Renaissance Technologies increased its AvePoint stake by 16.4%, buying 363,200 additional shares to own 2.58 million shares, or approximately 1.2% of the company. Hedge funds and other institutional investors collectively hold 44.49% of AVPT.
• AvePoint reported quarterly revenue of $117.24 million, slightly above expectations, but earnings per share of $0.07 missed the $0.08 consensus estimate. The stock opened at $13.02, with a market capitalization of $2.76 billion.
• Analyst sentiment remains positive, with AvePoint carrying a “Moderate Buy” consensus rating and an average price target of $16.44, despite target-price reductions from some analysts.

Renaissance Technologies LLC lifted its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,580,153 shares of the company's stock after purchasing an additional 363,200 shares during the quarter. Renaissance Technologies LLC owned about 1.20% of AvePoint worth $24,537,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in AvePoint during the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. boosted its position in shares of 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 acquiring an additional 2,689 shares during the last quarter. Vestcor Inc purchased a new position in shares of AvePoint in the third quarter valued at $45,000. Kemnay Advisory Services Inc. purchased a new position in shares of AvePoint in the fourth quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC increased its position in AvePoint by 6,111.6% in the second quarter. EverSource Wealth Advisors LLC now owns 5,342 shares of the company's stock worth $103,000 after purchasing an additional 5,256 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Stock Up 0.9%

AVPT stock opened at $13.02 on Thursday. AvePoint, Inc. has a twelve month low of $8.84 and a twelve month high of $19.95. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 62.00 and a beta of 1.16. The firm's fifty day simple moving average is $11.43 and its two-hundred day simple moving average is $10.93.

AvePoint (NASDAQ:AVPT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The firm had revenue of $117.24 million for the quarter, compared to analysts' expectations of $116.43 million. AvePoint had a return on equity of 10.52% and a net margin of 10.55%. As a group, equities research analysts expect that AvePoint, Inc. will post 0.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on AVPT shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of AvePoint in a research report on Wednesday, June 24th. Scotiabank reduced their target price on shares of AvePoint from $13.00 to $12.00 and set a "sector outperform" rating on the stock in a report on Friday, May 8th. Zacks Research upgraded shares of AvePoint from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $14.00 price target on shares of AvePoint in a report on Wednesday, May 13th. Finally, DA Davidson reissued a "buy" rating and set a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, AvePoint has an average rating of "Moderate Buy" and a consensus price target of $16.44.

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.

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