Creative Planning Grows Position in AvePoint, Inc. (NASDAQ:AVPT)

Creative Planning grew its position in AvePoint, Inc. (NASDAQ:AVPT) by 19.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,345 shares of the company’s stock after buying an additional 4,698 shares during the quarter. Creative Planning’s holdings in AvePoint were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its position in AvePoint by 33.7% during the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after purchasing an additional 161,759 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in AvePoint during the 2nd quarter worth about $548,000. Sei Investments Co. purchased a new stake in AvePoint during the 2nd quarter worth about $1,503,000. Acadian Asset Management LLC acquired a new stake in AvePoint in the 2nd quarter worth about $2,250,000. Finally, Vanguard Group Inc. grew its holdings in AvePoint by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after buying an additional 532,371 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Stock Up 10.5 %

AvePoint stock opened at $14.89 on Friday. AvePoint, Inc. has a 52-week low of $7.08 and a 52-week high of $15.64. The firm has a fifty day moving average of $12.06 and a 200-day moving average of $10.54. The firm has a market capitalization of $2.78 billion, a P/E ratio of -186.13 and a beta of 0.88.

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

Insider Activity at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total transaction of $108,900.00. Following the transaction, the insider now directly owns 18,440,673 shares in the company, valued at $200,818,928.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total value of $108,900.00. Following the transaction, the insider now directly owns 18,440,673 shares in the company, valued at approximately $200,818,928.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Caci sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the transaction, the chief financial officer now owns 630,084 shares in the company, valued at approximately $6,874,216.44. 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 sold 150,000 shares of company stock valued at $1,724,500. Corporate insiders own 27.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.