Royal Bank of Canada Decreases Holdings in AvePoint, Inc. $AVPT

Royal Bank of Canada reduced its stake in AvePoint, Inc. (NASDAQ:AVPT) by 89.2% in the 1st quarter, Holdings Channel reports. The firm owned 7,632 shares of the company’s stock after selling 63,314 shares during the quarter. Royal Bank of Canada’s holdings in AvePoint were worth $73,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AVPT. The Manufacturers Life Insurance Company lifted its stake in shares of AvePoint by 25.3% during the first quarter. The Manufacturers Life Insurance Company now owns 154,040 shares of the company’s stock worth $1,465,000 after purchasing an additional 31,132 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of AvePoint by 307.0% in the first quarter. Quantinno Capital Management LP now owns 109,317 shares of the company’s stock valued at $1,040,000 after buying an additional 82,457 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of AvePoint by 24.1% during the 1st quarter. Entropy Technologies LP now owns 20,063 shares of the company’s stock valued at $191,000 after buying an additional 3,891 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in AvePoint by 25.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,675,587 shares of the company’s stock worth $25,445,000 after acquiring an additional 535,015 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in AvePoint by 16.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock worth $24,537,000 after acquiring an additional 363,200 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Price Performance

Shares of AVPT stock opened at $13.50 on Wednesday. The firm has a market cap of $2.86 billion, a P/E ratio of 42.19 and a beta of 1.19. The firm has a fifty day moving average of $12.73 and a two-hundred day moving average of $11.15. AvePoint, Inc. has a 1-year low of $8.84 and a 1-year high of $16.77.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. AvePoint had a return on equity of 15.97% and a net margin of 15.33%.The firm had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.38 million. On average, sell-side analysts expect that AvePoint, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at AvePoint

In related news, insider Brian Michael Brown sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the sale, the insider directly owned 384,604 shares of the company’s stock, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 80,000 shares of company stock valued at $1,115,696. 22.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on AVPT. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of AvePoint in a research report on Wednesday, May 13th. Scotiabank boosted their target price on shares of AvePoint from $12.00 to $15.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 7th. TD Cowen upped their target price on shares of AvePoint from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Evercore restated an “outperform” rating and issued a $16.00 target price on shares of AvePoint in a research note on Friday, August 7th. Finally, DA Davidson reaffirmed a “buy” rating and set a $18.00 price target on shares of AvePoint in a report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.44.

About AvePoint

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.