Cubist Systematic Strategies LLC Raises Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Cubist Systematic Strategies LLC lifted its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 2,948.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 550,350 shares of the company’s stock after buying an additional 532,294 shares during the period. Cubist Systematic Strategies LLC owned about 0.30% of AvePoint worth $5,735,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AVPT. Vanguard Group Inc. raised its stake 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 worth $119,198,000 after buying an additional 532,371 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of AvePoint in the 2nd quarter worth approximately $2,881,000. Essex Investment Management Co. LLC acquired a new stake in shares of AvePoint in the 1st quarter worth approximately $1,844,000. Dimensional Fund Advisors LP grew its holdings in shares of AvePoint by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after acquiring an additional 227,324 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of AvePoint in the 2nd quarter worth approximately $2,250,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Stock Performance

Shares of NASDAQ:AVPT opened at $11.71 on Friday. The business’s fifty day moving average price is $11.12 and its two-hundred day moving average price is $9.62. The stock has a market cap of $2.17 billion, a PE ratio of -146.38 and a beta of 0.89. AvePoint, Inc. has a one year low of $6.45 and a one year high of $12.09.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVPT. Northland Securities upped their price target on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald upped their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th.

Insider Transactions at AvePoint

In other news, CFO James Caci sold 30,000 shares of the firm’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 sale, the chief financial officer now owns 630,084 shares in the company, valued at $6,874,216.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO James Caci sold 30,000 shares of the firm’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 sale, the chief financial officer now owns 630,084 shares in the company, valued at $6,874,216.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 1,277,373 shares in the company, valued at $13,770,080.94. The disclosure for this sale can be found here. Insiders have sold 150,000 shares of company stock worth $1,658,000 over the last quarter. 27.78% of the stock is currently owned by insiders.

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.