TT International Asset Management LTD Buys Shares of 139,504 AvePoint, Inc. $AVPT

TT International Asset Management LTD purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 139,504 shares of the company’s stock, valued at approximately $2,094,000. AvePoint comprises 0.3% of TT International Asset Management LTD’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. increased its position in shares of AvePoint by 112.8% during the first quarter. Invesco Ltd. now owns 1,678,190 shares of the company’s stock worth $24,233,000 after buying an additional 889,671 shares during the period. Nuveen LLC bought a new stake in AvePoint during the first quarter valued at $14,907,000. HighTower Advisors LLC boosted its position in AvePoint by 4.2% during the first quarter. HighTower Advisors LLC now owns 144,179 shares of the company’s stock valued at $2,082,000 after acquiring an additional 5,861 shares during the last quarter. American Century Companies Inc. grew its holdings in AvePoint by 83.9% during the 1st quarter. American Century Companies Inc. now owns 64,373 shares of the company’s stock worth $930,000 after acquiring an additional 29,365 shares during the period. Finally, Raymond James Financial Inc. raised its position in shares of AvePoint by 17.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,287,819 shares of the company’s stock worth $18,596,000 after acquiring an additional 193,502 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Analyst Ratings Changes

AVPT has been the topic of several research analyst reports. Morgan Stanley set a $18.30 target price on AvePoint in a research report on Monday, October 20th. Zacks Research raised AvePoint from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Citigroup cut their price target on AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 18th. Evercore ISI lowered their price objective on shares of AvePoint from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Finally, Weiss Ratings upgraded shares of AvePoint from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.03.

AvePoint Price Performance

Shares of AvePoint stock opened at $13.40 on Tuesday. AvePoint, Inc. has a 52 week low of $11.49 and a 52 week high of $20.25. The stock has a 50 day moving average price of $13.70 and a two-hundred day moving average price of $15.99.

AvePoint (NASDAQ:AVPT) last issued its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $109.73 million during the quarter, compared to the consensus estimate of $105.72 million. AvePoint had a return on equity of 0.66% and a net margin of 0.55%. As a group, sell-side analysts predict that AvePoint, Inc. will post -0.03 earnings per share for the current year.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 500,000 shares of AvePoint stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $7,605,000.00. Following the completion of the transaction, the insider owned 640,288 shares in the company, valued at approximately $9,738,780.48. The trade was a 43.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Chi On Ho sold 650,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $9,886,500.00. Following the completion of the sale, the director directly owned 3,732,679 shares of the company’s stock, valued at approximately $56,774,047.59. This trade represents a 14.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 5,720,780 shares of company stock valued at $86,945,866. 26.19% of the stock is currently owned by insiders.

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.