Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,005 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,782 shares of the company’s stock after purchasing an additional 4,005 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AvePoint were worth $236,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of AvePoint by 274.5% in the third quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company’s stock valued at $12,334,000 after buying an additional 1,345,267 shares during the period. Mackenzie Financial Corp bought a new stake in shares of AvePoint during the 3rd quarter valued at $108,000. Strs Ohio grew its holdings in shares of AvePoint by 51.4% during the 3rd quarter. Strs Ohio now owns 85,100 shares of the company’s stock worth $571,000 after purchasing an additional 28,900 shares in the last quarter. Arete Wealth Advisors LLC increased its position in shares of AvePoint by 21.6% in the third quarter. Arete Wealth Advisors LLC now owns 23,900 shares of the company’s stock worth $161,000 after purchasing an additional 4,250 shares during the period. Finally, Ingalls & Snyder LLC raised its stake in AvePoint by 22.3% in the third quarter. Ingalls & Snyder LLC now owns 176,373 shares of the company’s stock valued at $1,185,000 after purchasing an additional 32,146 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total value of $157,200.00. Following the completion of the transaction, the insider now directly owns 1,351,240 shares in the company, valued at approximately $10,620,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 43,061 shares of company stock valued at $343,888. 27.78% of the stock is currently owned by insiders.

AvePoint Stock Up 0.5 %

AvePoint stock opened at $8.18 on Tuesday. The stock has a market cap of $1.51 billion, a PE ratio of -68.17 and a beta of 0.84. AvePoint, Inc. has a 12-month low of $4.38 and a 12-month high of $8.61. The business’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $7.93.

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

Wall Street Analysts Forecast Growth

AVPT has been the topic of a number of analyst reports. Evercore ISI increased their price objective on shares of AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Citigroup upped their price target on shares of 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 price objective on shares of AvePoint from $10.00 to $11.00 and gave the company an “overweight” rating in a research note 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.