Federated Hermes Inc. Purchases 18,881 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Federated Hermes Inc. grew its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 878,765 shares of the company’s stock after buying an additional 18,881 shares during the quarter. Federated Hermes Inc. owned 0.48% of AvePoint worth $7,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AVPT. Aigen Investment Management LP bought a new position in AvePoint in the 3rd quarter worth $68,000. SG Americas Securities LLC bought a new position in AvePoint in the 4th quarter worth $95,000. Mackenzie Financial Corp bought a new position in AvePoint in the 3rd quarter worth $108,000. Counterpoint Mutual Funds LLC bought a new position in AvePoint in the 3rd quarter worth $126,000. Finally, Arete Wealth Advisors LLC raised its holdings in AvePoint by 21.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 23,900 shares of the company’s stock worth $161,000 after purchasing an additional 4,250 shares during the period. 44.49% of the stock is owned by institutional investors.

AvePoint Trading Down 0.1 %

AVPT opened at $7.91 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of -65.91 and a beta of 0.85. AvePoint, Inc. has a 12 month low of $4.01 and a 12 month high of $8.61. The stock has a 50-day moving average of $7.85 and a 200 day 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 the consensus estimate of $0.03 by ($0.01). The company had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $71.57 million. AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, research analysts forecast that AvePoint, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVPT. Cantor Fitzgerald raised their target price on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Citigroup increased their price target on AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Evercore ISI increased their price target on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $8.11, for a total value of $162,200.00. Following the completion of the transaction, the insider now owns 1,286,088 shares in the company, valued at $10,430,173.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 43,061 shares of company stock worth $342,288. Corporate insiders own 27.78% 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.