AvePoint, Inc. (NASDAQ:AVPT) Short Interest Down 5.7% in March

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 6,150,000 shares, a drop of 5.7% from the March 15th total of 6,520,000 shares. Approximately 5.4% of the shares of the company are sold short. Based on an average daily volume of 886,300 shares, the days-to-cover ratio is currently 6.9 days.

Insider Buying and Selling at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $8.11, for a total transaction of $162,200.00. Following the completion of the sale, the insider now owns 1,286,088 shares of the company's stock, valued at approximately $10,430,173.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 43,061 shares of company stock valued at $342,288 in the last quarter. 27.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in AvePoint by 227.8% in the first quarter. Vanguard Group Inc. now owns 10,390,928 shares of the company's stock valued at $54,656,000 after acquiring an additional 7,220,811 shares during the last quarter. BlackRock Inc. grew its position in AvePoint by 32.6% in the second quarter. BlackRock Inc. now owns 10,382,686 shares of the company's stock valued at $59,804,000 after acquiring an additional 2,553,858 shares during the last quarter. State Street Corp grew its position in AvePoint by 243.5% in the second quarter. State Street Corp now owns 2,143,383 shares of the company's stock valued at $9,302,000 after acquiring an additional 1,519,449 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AvePoint by 949.7% during the second quarter. JPMorgan Chase & Co. now owns 1,550,288 shares of the company's stock worth $8,930,000 after purchasing an additional 1,402,604 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of AvePoint by 274.5% during the third quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company's stock worth $12,334,000 after purchasing an additional 1,345,267 shares during the last quarter. Institutional investors own 44.49% of the company's stock.

AvePoint Stock Up 0.5 %

Shares of AVPT traded up $0.04 during midday trading on Tuesday, reaching $7.76. 519,174 shares of the stock were exchanged, compared to its average volume of 855,997. AvePoint has a twelve month low of $4.01 and a twelve month high of $8.61. The company has a market cap of $1.43 billion, a P/E ratio of -64.66 and a beta of 0.85. The stock's 50 day simple moving average is $7.87 and its 200 day simple moving average is $7.86.

AvePoint (NASDAQ:AVPT - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The company had revenue of $74.60 million during the quarter, compared to the consensus estimate of $71.57 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The firm's revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts predict that AvePoint will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AVPT shares. Evercore ISI raised their price target on AvePoint from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Citigroup lifted their target price on AvePoint from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, January 10th. Finally, Cantor Fitzgerald lifted their target price on AvePoint from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, March 1st.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.