Arizona State Retirement System Acquires 4,303 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Arizona State Retirement System boosted its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 16.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,097 shares of the company’s stock after purchasing an additional 4,303 shares during the quarter. Arizona State Retirement System’s holdings in AvePoint were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in AvePoint by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 202,840 shares of the company’s stock worth $1,363,000 after purchasing an additional 1,561 shares during the period. Credit Suisse AG raised its holdings in shares of AvePoint by 4.1% during the 2nd quarter. Credit Suisse AG now owns 62,474 shares of the company’s stock worth $270,000 after acquiring an additional 2,470 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of AvePoint by 6.3% during the 4th quarter. Legal & General Group Plc now owns 42,901 shares of the company’s stock worth $176,000 after acquiring an additional 2,538 shares in the last quarter. PFS Investments Inc. raised its holdings in shares of AvePoint by 23.7% during the 4th quarter. PFS Investments Inc. now owns 14,305 shares of the company’s stock worth $59,000 after acquiring an additional 2,745 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of AvePoint by 14.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,865 shares of the company’s stock worth $94,000 after acquiring an additional 2,901 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on AVPT shares. Evercore ISI upped their price objective on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Cantor Fitzgerald upped their price objective on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Citigroup upped their price objective on AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th.

AvePoint Stock Performance

NASDAQ:AVPT opened at $7.69 on Monday. The stock’s fifty day moving average is $7.86 and its 200 day moving average is $7.88. AvePoint, Inc. has a fifty-two week low of $4.01 and a fifty-two week high of $8.61. The firm has a market capitalization of $1.42 billion, a PE ratio of -64.08 and a beta of 0.85.

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

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 20,000 shares of the 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 sale, the insider now owns 1,286,088 shares in the company, valued at approximately $10,430,173.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 43,061 shares of company stock worth $342,288. Company 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.