AvePoint, Inc. (NASDAQ:AVPT) Stock Position Lessened by Monarch Alternative Capital LP

Monarch Alternative Capital LP decreased its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,655,597 shares of the company’s stock after selling 970,403 shares during the period. AvePoint comprises 12.9% of Monarch Alternative Capital LP’s investment portfolio, making the stock its 3rd biggest position. Monarch Alternative Capital LP owned approximately 1.99% of AvePoint worth $28,952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVPT. Vanguard Group Inc. raised its position 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 acquiring an additional 532,371 shares in the last quarter. Federated Hermes Inc. raised its holdings in AvePoint by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 878,765 shares of the company’s stock worth $7,215,000 after purchasing an additional 18,881 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of AvePoint during the 4th quarter worth approximately $3,590,000. Essex Investment Management Co. LLC acquired a new position in shares of AvePoint in the 1st quarter valued at $1,844,000. Finally, Swiss National Bank boosted its holdings in shares of AvePoint by 5.9% in the 4th quarter. Swiss National Bank now owns 219,200 shares of the company’s stock valued at $1,800,000 after buying an additional 12,300 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Stock Up 0.6 %

Shares of AVPT stock traded up $0.06 during trading hours on Monday, hitting $10.93. 815,626 shares of the company were exchanged, compared to its average volume of 976,159. The firm has a market cap of $2.03 billion, a PE ratio of -136.63 and a beta of 0.89. The firm has a fifty day moving average of $9.88 and a 200 day moving average of $8.63. AvePoint, Inc. has a 1 year low of $5.74 and a 1 year high of $11.03.

AvePoint (NASDAQ:AVPT) last issued its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. The company had revenue of $74.53 million during the quarter, compared to the consensus estimate of $72.33 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company’s revenue was up 25.1% compared to the same quarter last year. Analysts expect that AvePoint, Inc. will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Northland Securities increased their price objective on AvePoint from $12.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, June 17th.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $7.86, for a total value of $157,200.00. Following the sale, 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 legal filing with the SEC, which is available at the SEC website. Also, CFO James Caci sold 40,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $9.04, for a total value of $361,600.00. Following the completion of the transaction, the chief financial officer now directly owns 665,097 shares of the company’s stock, valued at $6,012,476.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,000 shares of company stock worth $907,200. Insiders own 27.78% of the company’s stock.

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.