Millennium Management LLC Increases Position in AvePoint, Inc. (NASDAQ:AVPT)

Millennium Management LLC increased its position in AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 33.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 641,862 shares of the company's stock after acquiring an additional 161,759 shares during the quarter. Millennium Management LLC owned about 0.35% of AvePoint worth $6,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVPT. Vanguard Group Inc. lifted its stake in shares of AvePoint by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company's stock valued at $119,192,000 after buying an additional 89,564 shares in the last quarter. Sei Investments Co. bought a new position in shares of AvePoint in the second quarter worth $1,503,000. Acadian Asset Management LLC purchased a new position in shares of AvePoint in the second quarter valued at $2,250,000. Principal Financial Group Inc. raised its stake in shares of AvePoint by 370.3% during the 1st quarter. Principal Financial Group Inc. now owns 80,697 shares of the company's stock valued at $639,000 after purchasing an additional 63,538 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in AvePoint by 16.4% in the 2nd quarter. Renaissance Technologies LLC now owns 861,900 shares of the company's stock worth $8,981,000 after purchasing an additional 121,200 shares during the period. 44.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AVPT shares. Cantor Fitzgerald increased their price target on shares of AvePoint from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Northland Securities increased their target price on shares of AvePoint from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th.

AvePoint Stock Performance

AVPT traded up $0.09 on Friday, reaching $12.50. The company had a trading volume of 726,524 shares, compared to its average volume of 1,007,892. AvePoint, Inc. has a 52-week low of $6.96 and a 52-week high of $12.66. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -155.38 and a beta of 0.89. The business has a 50 day simple moving average of $11.32 and a 200 day simple moving average of $9.88.

AvePoint (NASDAQ:AVPT - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The company had revenue of $77.96 million during the quarter, compared to analysts' expectations of $75.17 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity at AvePoint

In other AvePoint news, CFO James Caci sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 20th. The shares were 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 directly owns 630,084 shares in the company, valued at $6,874,216.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other AvePoint news, CFO James Caci sold 30,000 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total value of $327,300.00. Following the sale, the chief financial officer now owns 630,084 shares of the company's stock, valued at $6,874,216.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $10.78, for a total value of $215,600.00. Following the completion of the sale, the insider now directly owns 1,277,373 shares in the company, valued at $13,770,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,000 shares of company stock valued at $1,450,600. Corporate insiders own 27.78% of the company's stock.

About AvePoint

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.