Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in AvePoint, Inc. (NASDAQ:AVPT)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AvePoint, Inc. (NASDAQ:AVPT – Get Rating) by 21.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,777 shares of the company’s stock after purchasing an additional 4,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AvePoint were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Investment Partners LLC purchased a new position in AvePoint during the 4th quarter valued at about $161,000. Versor Investments LP boosted its stake in shares of AvePoint by 111.9% during the 4th quarter. Versor Investments LP now owns 49,800 shares of the company’s stock worth $205,000 after purchasing an additional 26,300 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of AvePoint in the third quarter worth approximately $245,000. Bank of New York Mellon Corp boosted its position in shares of AvePoint by 12.0% in the third quarter. Bank of New York Mellon Corp now owns 402,668 shares of the company’s stock worth $1,615,000 after acquiring an additional 43,105 shares during the last quarter. Finally, EVR Research LP boosted its position in shares of AvePoint by 16.6% in the third quarter. EVR Research LP now owns 4,163,000 shares of the company’s stock worth $16,694,000 after acquiring an additional 592,000 shares during the last quarter. 41.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group started coverage on shares of AvePoint in a research report on Tuesday, February 14th. They issued a “neutral” rating and a $5.50 target price on the stock.

AvePoint Price Performance

AVPT opened at $4.46 on Wednesday. The stock has a market capitalization of $853.64 million, a PE ratio of -20.27 and a beta of 1.00. The firm’s fifty day moving average price is $4.29 and its 200 day moving average price is $4.43. AvePoint, Inc. has a 12-month low of $3.40 and a 12-month high of $6.13.

AvePoint (NASDAQ:AVPT – Get Rating) last issued its earnings results on Thursday, March 9th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $63.61 million for the quarter, compared to analyst estimates of $63.99 million. AvePoint had a negative return on equity of 19.02% and a negative net margin of 17.92%. On average, equities research analysts forecast that AvePoint, Inc. will post -0.15 earnings per share for the current fiscal year.

About AvePoint

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AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.