AvePoint, Inc. (NASDAQ:AVPT) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its position in AvePoint, Inc. (NASDAQ:AVPT) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 878,765 shares of the company’s stock after acquiring an additional 18,881 shares during the quarter. Federated Hermes Inc.’s holdings in AvePoint were worth $7,215,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of AvePoint by 274.5% during the 3rd 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. Trexquant Investment LP acquired a new position in shares of AvePoint during the 3rd quarter worth about $402,000. Jump Financial LLC acquired a new position in shares of AvePoint during the 3rd quarter worth about $645,000. Herald Investment Management Ltd raised its position in shares of AvePoint by 20.4% during the 3rd quarter. Herald Investment Management Ltd now owns 425,000 shares of the company’s stock worth $2,848,000 after purchasing an additional 71,993 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of AvePoint during the 3rd quarter worth about $532,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

Insider Activity

In other news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $8.11, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 43,061 shares of company stock valued at $342,288 in the last 90 days. Company insiders own 27.78% of the company’s stock.

AvePoint Trading Down 0.1 %

Shares of NASDAQ AVPT opened at $7.91 on Thursday. AvePoint, Inc. has a 12-month low of $4.01 and a 12-month high of $8.61. The stock has a market cap of $1.46 billion, a PE ratio of -65.91 and a beta of 0.85. The company has a 50-day moving average of $7.85 and a 200 day moving average of $7.90.

AvePoint (NASDAQ:AVPT) last posted 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 firm had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $71.57 million. During the same period last year, the company earned ($0.07) EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that AvePoint, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AVPT has been the subject of several research analyst reports. Cantor Fitzgerald upped their price target on shares of AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Evercore ISI upped their price objective on shares of AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Citigroup upped their price objective on shares of AvePoint from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th.

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.