AvePoint, Inc. $AVPT Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in AvePoint, Inc. (NASDAQ:AVPT) by 27.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 654,772 shares of the company’s stock after selling 252,162 shares during the period. Federated Hermes Inc. owned about 0.32% of AvePoint worth $12,644,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its holdings in AvePoint by 6,801.0% during the 2nd quarter. Quantbot Technologies LP now owns 307,026 shares of the company’s stock worth $5,929,000 after buying an additional 302,577 shares during the last quarter. EFG Asset Management North America Corp. lifted its stake in AvePoint by 136.1% during the second quarter. EFG Asset Management North America Corp. now owns 163,066 shares of the company’s stock worth $3,150,000 after purchasing an additional 93,994 shares during the last quarter. Okabena Investment Services Inc. bought a new stake in AvePoint during the second quarter valued at $780,000. Jennison Associates LLC raised its holdings in shares of AvePoint by 37.0% during the second quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock worth $56,163,000 after purchasing an additional 786,016 shares during the period. Finally, Petrus Trust Company LTA lifted its position in shares of AvePoint by 106.1% in the 1st quarter. Petrus Trust Company LTA now owns 34,864 shares of the company’s stock worth $503,000 after buying an additional 17,945 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 1,848 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.03, for a total value of $27,775.44. Following the completion of the transaction, the insider directly owned 631,893 shares in the company, valued at $9,497,351.79. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Xunkai Gong sold 18,321 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $13.80, for a total transaction of $252,829.80. Following the completion of the sale, the chairman owned 15,040,668 shares of the company’s stock, valued at approximately $207,561,218.40. This trade represents a 0.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,720,780 shares of company stock valued at $86,945,866. 26.19% of the stock is currently owned by corporate insiders.

AvePoint Trading Up 0.6%

Shares of AVPT stock opened at $13.70 on Thursday. AvePoint, Inc. has a 1 year low of $11.49 and a 1 year high of $20.25. The business’s fifty day moving average is $13.78 and its 200-day moving average is $16.11.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $109.73 million for the quarter, compared to the consensus estimate of $105.72 million. AvePoint had a net margin of 0.55% and a return on equity of 0.66%. As a group, sell-side analysts expect that AvePoint, Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVPT shares. Wall Street Zen raised shares of AvePoint from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a research note on Monday, October 6th. DA Davidson initiated coverage on shares of AvePoint in a research note on Monday, September 22nd. They issued a “buy” rating and a $20.00 price target on the stock. Baird R W raised AvePoint to a “hold” rating in a report on Monday, October 27th. Finally, Cantor Fitzgerald decreased their price objective on AvePoint from $22.50 to $18.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, AvePoint presently has an average rating of “Moderate Buy” and a consensus price target of $19.03.

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.