AvePoint, Inc. (NASDAQ:AVPT) Shares Sold by Sixth Street Partners Management Company L.P.

Sixth Street Partners Management Company L.P. lessened its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT) by 74.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,597,002 shares of the company’s stock after selling 4,559,840 shares during the quarter. AvePoint makes up about 2.2% of Sixth Street Partners Management Company L.P.’s portfolio, making the stock its 7th biggest holding. Sixth Street Partners Management Company L.P.’s holdings in AvePoint were worth $16,641,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in AvePoint by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after acquiring an additional 532,371 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares during the last quarter. Federated Hermes Inc. grew its position in shares of AvePoint by 3.6% in the second quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after purchasing an additional 32,821 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of AvePoint by 16.4% in the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock valued at $8,981,000 after purchasing an additional 121,200 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in AvePoint during the first quarter worth approximately $1,844,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Insider Activity at AvePoint

In related news, CFO James Caci sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at approximately $6,874,216.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO James Caci sold 30,000 shares of AvePoint stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total value of $327,300.00. Following the completion of the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at $6,874,216.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $10.78, for a total value of $215,600.00. Following the transaction, the insider now directly owns 1,277,373 shares of the company’s stock, valued at $13,770,080.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,000 shares of company stock worth $1,183,200. 27.78% of the stock is currently owned by company insiders.

AvePoint Price Performance

Shares of AVPT opened at $11.78 on Wednesday. The firm has a 50-day simple moving average of $10.91 and a two-hundred day simple moving average of $9.42. The stock has a market cap of $2.18 billion, a PE ratio of -147.25 and a beta of 0.89. AvePoint, Inc. has a 1-year low of $6.41 and a 1-year high of $12.09.

AvePoint (NASDAQ:AVPT) last posted its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. The company had revenue of $77.96 million during the quarter, compared to analyst estimates of $75.17 million. During the same quarter last year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, sell-side analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AVPT has been the topic of several recent research reports. Cantor Fitzgerald boosted their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Northland Securities increased their price objective on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th.

AvePoint Company Profile

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.