AvePoint, Inc. (NASDAQ:AVPT) is Monarch Alternative Capital LP’s 3rd Largest Position

Monarch Alternative Capital LP trimmed its position in AvePoint, Inc. (NASDAQ:AVPT) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,655,597 shares of the company’s stock after selling 970,403 shares during the period. AvePoint accounts for 12.9% of Monarch Alternative Capital LP’s portfolio, making the stock its 3rd biggest position. Monarch Alternative Capital LP’s holdings in AvePoint were worth $28,952,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVPT. Arizona State Retirement System lifted its holdings in shares of AvePoint by 16.1% during the fourth quarter. Arizona State Retirement System now owns 31,097 shares of the company’s stock valued at $255,000 after purchasing an additional 4,303 shares during the last quarter. Strs Ohio raised its stake in AvePoint by 3.9% during the fourth quarter. Strs Ohio now owns 88,400 shares of the company’s stock valued at $725,000 after buying an additional 3,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AvePoint by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock worth $236,000 after acquiring an additional 4,005 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of AvePoint by 2.2% in the fourth quarter. Federated Hermes Inc. now owns 878,765 shares of the company’s stock worth $7,215,000 after acquiring an additional 18,881 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of AvePoint in the fourth quarter worth $1,260,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Trading Up 0.6 %

AVPT traded up $0.06 during trading on Monday, hitting $10.93. 815,626 shares of the company’s stock traded hands, compared to its average volume of 976,159. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -136.63 and a beta of 0.89. The company’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $8.63. AvePoint, Inc. has a 12-month low of $5.74 and a 12-month high of $11.03.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $74.53 million during the quarter, compared to the consensus estimate of $72.33 million. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. AvePoint’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. On average, equities analysts expect that AvePoint, Inc. will post -0.05 EPS for the current year.

Analysts Set New Price Targets

Separately, Northland Securities upped their price target on shares of AvePoint from $12.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total transaction of $157,200.00. Following the completion of the sale, the insider now owns 1,351,240 shares in the company, valued at $10,620,746.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AvePoint news, CFO James Caci sold 40,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $9.04, for a total value of $361,600.00. Following the transaction, the chief financial officer now directly owns 665,097 shares in the company, valued at $6,012,476.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total value of $157,200.00. Following the completion of the sale, the insider now owns 1,351,240 shares of the company’s stock, valued at $10,620,746.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,000 shares of company stock worth $907,200. 27.78% of the stock is owned by insiders.

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.