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

Pictet Asset Management Holding SA lowered its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 60.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 and other institutional investors have also recently modified their holdings of AVPT. Capitolis Liquid Global Markets LLC purchased a new position in AvePoint in the third quarter worth $4,715,000. Vanguard Group Inc. raised its stake in shares of AvePoint by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock worth $241,749,000 after purchasing an additional 195,404 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of AvePoint during the 4th quarter worth $10,362,000. Jennison Associates LLC boosted its holdings in shares of AvePoint by 11.1% in the 4th quarter. Jennison Associates LLC now owns 4,173,280 shares of the company’s stock worth $57,967,000 after buying an additional 417,625 shares during the last quarter. Finally, Prudential PLC purchased a new position in shares of AvePoint in the 3rd quarter worth about $26,824,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Price Performance

Shares of AVPT traded down $0.23 during trading hours on Friday, hitting $12.44. The company’s stock had a trading volume of 2,880,808 shares, compared to its average volume of 2,612,801. The business has a 50 day simple moving average of $10.76 and a two-hundred day simple moving average of $11.04. AvePoint, Inc. has a 52-week low of $8.84 and a 52-week high of $19.95. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 59.24 and a beta of 1.16.

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

Analyst Upgrades and Downgrades

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

About AvePoint

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.