Harbor Capital Advisors Inc. Makes New Investment in AvePoint, Inc. (NASDAQ:AVPT)

Harbor Capital Advisors Inc. bought a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 119,246 shares of the company's stock, valued at approximately $1,404,000. Harbor Capital Advisors Inc. owned 0.06% of AvePoint at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVPT. SG Americas Securities LLC increased its position in AvePoint by 44.2% in the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company's stock valued at $132,000 after acquiring an additional 5,125 shares during the period. ProShare Advisors LLC increased its position in shares of AvePoint by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company's stock valued at $268,000 after purchasing an additional 3,749 shares during the period. Vanguard Group Inc. increased its position in shares of AvePoint by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company's stock valued at $119,198,000 after purchasing an additional 532,371 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of AvePoint by 14.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company's stock valued at $337,000 after purchasing an additional 5,316 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in shares of AvePoint during the 1st quarter valued at $130,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the company's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the transaction, the insider now directly owns 18,460,673 shares of the company's stock, valued at $198,821,448.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00. Following the transaction, the insider now owns 18,460,673 shares in the company, valued at approximately $198,821,448.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Caci sold 30,000 shares of the company's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the sale, the chief financial officer now owns 630,084 shares of the company's stock, valued at $6,874,216.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $1,724,500 over the last quarter. Company insiders own 27.78% of the company's stock.

AvePoint Trading Up 4.6 %

Shares of NASDAQ AVPT traded up $0.58 during mid-day trading on Wednesday, reaching $13.09. The company had a trading volume of 1,113,302 shares, compared to its average volume of 967,768. The stock has a market cap of $2.44 billion, a PE ratio of -160.63 and a beta of 0.88. The company has a 50-day moving average price of $11.92 and a two-hundred day moving average price of $10.46. AvePoint, Inc. has a 1-year low of $7.08 and a 1-year high of $13.10.

AvePoint (NASDAQ:AVPT - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). The company had revenue of $77.96 million during the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The business's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. On average, research analysts expect that AvePoint, Inc. will post -0.09 EPS for the current year.

Analysts Set New Price Targets

AVPT has been the topic of several research analyst reports. Cantor Fitzgerald lifted their price target on AvePoint from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Northland Securities lifted their target price on AvePoint from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, August 9th.

AvePoint 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.