CoreCap Advisors LLC Reduces Stock Holdings in AvePoint, Inc. (NASDAQ:AVPT)

CoreCap Advisors LLC lessened its stake in AvePoint, Inc. (NASDAQ:AVPT) by 26.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,197 shares of the company’s stock after selling 15,557 shares during the quarter. CoreCap Advisors LLC’s holdings in AvePoint were worth $697,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in AvePoint by 358.5% during the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after purchasing an additional 161,354 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of AvePoint by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after acquiring an additional 27,191 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AvePoint by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after acquiring an additional 184,361 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of AvePoint by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company’s stock worth $2,004,000 after acquiring an additional 2,112 shares in the last quarter. Finally, Empirical Asset Management LLC purchased a new position in AvePoint in the fourth quarter valued at about $264,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup cut their target price on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Scotiabank upped their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a report on Friday. Finally, William Blair reissued an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

AvePoint Price Performance

AVPT stock opened at $18.85 on Friday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -376.92 and a beta of 1.30. AvePoint, Inc. has a 1-year low of $8.08 and a 1-year high of $19.90. The firm has a fifty day moving average price of $15.06 and a two-hundred day moving average price of $16.33.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). AvePoint had a negative net margin of 2.36% and a negative return on equity of 3.16%. As a group, analysts expect that AvePoint, Inc. will post -0.03 EPS for the current fiscal year.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the sale, the insider now directly owns 1,312,145 shares in the company, valued at $19,826,510.95. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 26.19% of the company’s stock.

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.