Royal Bank of Canada Trims Holdings in AvePoint, Inc. $AVPT

Royal Bank of Canada reduced its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 89.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,632 shares of the company’s stock after selling 63,314 shares during the period. Royal Bank of Canada’s holdings in AvePoint were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in AvePoint by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,404,543 shares of the company’s stock worth $241,749,000 after acquiring an additional 195,404 shares during the last quarter. Parsifal Capital Management LP raised its holdings in AvePoint by 61.2% in the 3rd 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 last quarter. Morgan Stanley raised its holdings in AvePoint by 372.6% in the 4th quarter. Morgan Stanley now owns 7,871,282 shares of the company’s stock valued at $109,332,000 after acquiring an additional 6,205,829 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AvePoint by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 3,643,473 shares of the company’s stock worth $50,614,000 after purchasing an additional 234,080 shares during the period. Finally, State Street Corp lifted its stake in shares of AvePoint by 9.8% during the 4th quarter. State Street Corp now owns 3,382,915 shares of the company’s stock worth $46,989,000 after purchasing an additional 300,579 shares during the period. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVPT shares. DA Davidson restated a “buy” rating and set a $18.00 price objective on shares of AvePoint in a report on Monday, July 6th. Evercore reiterated an “outperform” rating and issued a $16.00 target price on shares of AvePoint in a research note on Friday, August 7th. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Zacks Research cut AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, TD Cowen upped their price objective on shares of AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and an average price target of $16.44.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 60,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the completion of the sale, the insider directly owned 384,604 shares in the company, valued at $5,461,376.80. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 80,000 shares of company stock worth $1,115,696 over the last ninety days. 22.66% of the stock is currently owned by insiders.

AvePoint Stock Down 3.0%

Shares of AVPT opened at $13.50 on Wednesday. The firm has a market cap of $2.86 billion, a PE ratio of 42.19 and a beta of 1.19. The company’s fifty day moving average is $12.73 and its two-hundred day moving average is $11.15. AvePoint, Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $16.77.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $121.38 million. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. As a group, equities research analysts anticipate that AvePoint, Inc. will post 0.25 earnings per share for the current year.

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.