AvePoint, Inc. (NASDAQ:AVPT) Short Interest Update

AvePoint, Inc. (NASDAQ:AVPT) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 6,150,000 shares, a decline of 5.7% from the March 15th total of 6,520,000 shares. Based on an average daily trading volume, of 886,300 shares, the days-to-cover ratio is currently 6.9 days. Currently, 5.4% of the shares of the stock are sold short.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $8.11, for a total value of $162,200.00. Following the sale, the insider now owns 1,286,088 shares of the company’s stock, valued at approximately $10,430,173.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 43,061 shares of company stock valued at $342,288 in the last 90 days. 27.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvePoint

A number of institutional investors and hedge funds have recently made changes to their positions in AVPT. Vanguard Group Inc. increased its holdings in AvePoint by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock valued at $119,192,000 after purchasing an additional 89,564 shares during the last quarter. BlackRock Inc. increased its holdings in AvePoint by 32.6% in the second quarter. BlackRock Inc. now owns 10,382,686 shares of the company’s stock valued at $59,804,000 after purchasing an additional 2,553,858 shares during the last quarter. State Street Corp increased its holdings in AvePoint by 15.3% in the second quarter. State Street Corp now owns 2,717,506 shares of the company’s stock valued at $15,653,000 after purchasing an additional 361,162 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in AvePoint by 13.6% in the second quarter. Geode Capital Management LLC now owns 2,551,695 shares of the company’s stock valued at $14,698,000 after purchasing an additional 304,782 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Up 0.5 %

AVPT stock opened at $7.76 on Wednesday. The company has a market cap of $1.43 billion, a P/E ratio of -64.66 and a beta of 0.85. AvePoint has a twelve month low of $4.01 and a twelve month high of $8.61. The business has a fifty day moving average of $7.87 and a 200-day moving average of $7.86.

AvePoint (NASDAQ:AVPT) last released its earnings results on Thursday, February 29th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $74.60 million for the quarter, compared to the consensus estimate of $71.57 million. AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. As a group, equities research analysts anticipate that AvePoint will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVPT. Citigroup boosted their price target on AvePoint from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Cantor Fitzgerald boosted their price objective on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Evercore ISI boosted their price objective on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

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.