Squarepoint Ops LLC Has $5.04 Million Stock Holdings in AvePoint, Inc. $AVPT

Key Points

• Squarepoint Ops LLC reduced its AvePoint stake by 17.1% in the second quarter, selling 93,008 shares and retaining 449,555 shares worth approximately $5.04 million. Institutional investors collectively own 44.49% of the company.
• AvePoint exceeded quarterly expectations, reporting $0.12 in EPS versus the $0.08 consensus and revenue of $124.5 million versus $121.38 million expected. Analysts maintain a “Moderate Buy” consensus with an average price target of $16.44.
• Insiders sold 80,000 shares worth about $1.12 million during the last quarter, including a 60,000-share sale by insider Brian Brown. AvePoint shares recently opened at $12.66, compared with a 52-week range of $8.84 to $16.09.

Squarepoint Ops LLC lowered its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 17.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,555 shares of the company's stock after selling 93,008 shares during the quarter. Squarepoint Ops LLC owned approximately 0.21% of AvePoint worth $5,040,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in AvePoint by 11.2% during the third quarter. US Bancorp DE now owns 7,962 shares of the company's stock worth $120,000 after buying an additional 800 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AvePoint by 26.6% during the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company's stock worth $43,000 after buying an additional 802 shares in the last quarter. Blair William & Co. IL raised its stake in shares of AvePoint by 8.3% in the fourth quarter. Blair William & Co. IL now owns 13,700 shares of the company's stock valued at $190,000 after acquiring an additional 1,050 shares during the last quarter. Xponance LLC raised its stake in shares of AvePoint by 11.5% in the fourth quarter. Xponance LLC now owns 11,522 shares of the company's stock valued at $160,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of AvePoint by 9.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 14,578 shares of the company's stock worth $219,000 after acquiring an additional 1,314 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Price Performance

Shares of AvePoint stock opened at $12.66 on Friday. The firm has a 50 day simple moving average of $13.07 and a 200 day simple moving average of $11.29. AvePoint, Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $16.09. The firm has a market cap of $2.68 billion, a P/E ratio of 39.56 and a beta of 1.19.

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, 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 return on equity of 15.97% and a net margin of 15.33%. On average, sell-side analysts expect that AvePoint, Inc. will post 0.25 EPS for the current year.

Insider Activity

In related news, insider Brian Brown sold 60,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $14.20, for a total value of $852,000.00. Following the transaction, the insider owned 384,604 shares in the company, valued at $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 is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,000 shares of company stock worth $1,115,696 over the last quarter. Corporate insiders own 22.66% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore restated an "outperform" rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th. TD Cowen boosted their price objective on AvePoint from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Scotiabank boosted their price objective on AvePoint from $12.00 to $15.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 7th. Weiss Ratings upgraded AvePoint from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered AvePoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.44.

AvePoint Profile

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company's product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.

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