Pictet Asset Management Holding SA Reduces Stake in AvePoint, Inc. $AVPT

Pictet Asset Management Holding SA lowered its stake in AvePoint, Inc. (NASDAQ:AVPT) by 60.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,282 shares of the company’s stock after selling 62,062 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AvePoint were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley increased its position in shares of AvePoint by 372.6% during the fourth quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock valued at $109,332,000 after buying an additional 6,205,829 shares during the period. Parsifal Capital Management LP boosted its position in shares of AvePoint by 61.2% in the third quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock valued at $127,926,000 after acquiring an additional 3,235,384 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in AvePoint by 620.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock valued at $29,733,000 after acquiring an additional 1,843,641 shares in the last quarter. SG Americas Securities LLC increased its holdings in AvePoint by 335.2% during the 1st quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock worth $22,745,000 after acquiring an additional 1,842,124 shares during the period. Finally, Prudential PLC bought a new stake in AvePoint during the 3rd quarter worth approximately $26,824,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Trading Down 1.8%

Shares of AvePoint stock traded down $0.23 on Friday, hitting $12.44. 2,880,808 shares of the company traded hands, compared to its average volume of 2,612,801. AvePoint, Inc. has a 12-month low of $8.84 and a 12-month high of $19.95. The company has a market cap of $2.64 billion, a P/E ratio of 59.24 and a beta of 1.16. The firm’s 50-day simple moving average is $10.76 and its 200 day simple moving average is $11.04.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $117.24 million during the quarter, compared to analysts’ expectations of $116.43 million. AvePoint had a return on equity of 10.52% and a net margin of 10.55%. Analysts predict that AvePoint, Inc. will post 0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of AvePoint in a research report on Wednesday, June 24th. Scotiabank reduced their target price on AvePoint from $13.00 to $12.00 and set a “sector outperform” rating for the company in a research report on Friday, May 8th. William Blair restated a “market perform” rating on shares of AvePoint in a research note on Monday, March 23rd. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price target on shares of AvePoint in a report on Monday, July 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $14.00 price objective on shares of AvePoint in a report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.44.

AvePoint Profile

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.