Harvest Fund Management Co. Ltd Takes Position in AvePoint, Inc. (NASDAQ:AVPT)

Harvest Fund Management Co. Ltd purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,698 shares of the company’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in AvePoint by 274.5% during the third quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company’s stock valued at $12,334,000 after acquiring an additional 1,345,267 shares in the last quarter. Federated Hermes Inc. grew its stake in AvePoint by 2.2% during the fourth quarter. Federated Hermes Inc. now owns 878,765 shares of the company’s stock valued at $7,215,000 after acquiring an additional 18,881 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in AvePoint by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 868,806 shares of the company’s stock valued at $5,838,000 after acquiring an additional 52,750 shares in the last quarter. Herald Investment Management Ltd grew its stake in AvePoint by 20.4% during the third quarter. Herald Investment Management Ltd now owns 425,000 shares of the company’s stock valued at $2,848,000 after acquiring an additional 71,993 shares in the last quarter. Finally, Ingalls & Snyder LLC grew its stake in AvePoint by 22.3% during the third quarter. Ingalls & Snyder LLC now owns 176,373 shares of the company’s stock valued at $1,185,000 after acquiring an additional 32,146 shares in the last quarter. Institutional investors own 44.49% of the company’s stock.

Insider Activity

In other news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $8.11, for a total value of $162,200.00. Following the completion of the sale, the insider now owns 1,286,088 shares of the company’s stock, valued at approximately $10,430,173.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 43,061 shares of company stock valued at $342,288. Corporate insiders own 27.78% of the company’s stock.

Analyst Upgrades and Downgrades

AVPT has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Citigroup boosted their price target on shares of AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Cantor Fitzgerald boosted their price target on shares of AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st.

AvePoint Price Performance

AVPT stock opened at $8.13 on Friday. AvePoint, Inc. has a one year low of $4.15 and a one year high of $8.61. The stock has a market cap of $1.50 billion, a PE ratio of -67.74 and a beta of 0.85. The firm has a 50 day simple moving average of $7.85 and a two-hundred day simple moving average of $7.90.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The company had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $71.57 million. During the same period in the prior year, the firm earned ($0.07) EPS. AvePoint’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that AvePoint, Inc. will post -0.15 EPS for the current fiscal year.

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.