On September 15, 2023, Sixth Street Partners Management Company, L.P. (Trades, Portfolio), a Dallas-based investment firm, reduced its holdings in AvePoint Inc (AVPT, Financial) by 66.46%, selling 15,951,351 shares at a trade price of $6 per share. This transaction impacted the firm's portfolio by -9.01%, leaving it with a total of 8,049,241 shares in AvePoint Inc, which now represents 5% of its portfolio and 4.34% of AvePoint's total shares.
AvePoint Inc, a leading provider of Microsoft 365 data management solutions, offers a comprehensive suite of SaaS solutions to migrate, manage, and protect data. The company operates in various segments including Maintenance, Perpetual license, Services, Software-as-a-service (SaaS), Term license, and support. With a market capitalization of $1.25 billion, AvePoint Inc has been publicly traded since its IPO on July 2, 2021.
Sixth Street Partners Management Company, L.P. (Trades, Portfolio) is an investment firm located at 2100 McKinney Avenue, Dallas, TX. The firm currently holds 15 stocks in its portfolio, with a total equity of $1.06 billion. Its top holdings include Cheniere Energy Inc(LNG, Financial), Fiserv Inc(FI, Financial), PG&E Corp(PCG, Financial), Sprinklr Inc(CXM, Financial), and AvePoint Inc(AVPT, Financial). The firm's investments are primarily concentrated in the Utilities and Technology sectors.
Performance and Financial Health of AvePoint Inc
AvePoint Inc's stock, traded under the symbol AVPT, is currently priced at $6.76. The stock has seen a gain of 12.67% since the transaction and a year-to-date increase of 60.19%. However, it has experienced a decrease of 43.19% since its IPO. The company's GF Score is 19/100, indicating poor future performance potential.
In terms of financial health, AvePoint Inc has a Z score of 3.55 and a cash to debt ratio of 20.73, ranking 750th in the Software industry. The company's Profitability Rank is 1/10, and its Growth Rank is 0/10, indicating a lack of profitability and growth.
Growth and Momentum of AvePoint Inc
Over the past three years, AvePoint Inc has seen a revenue growth of 25.60%, an EBITDA growth of -27.20%, and an earnings growth of 31.30%. The company's RSI 5 Day is 50.90, RSI 9 Day is 54.82, and RSI 14 Day is 56.90, indicating a neutral momentum. The company's momentum index for 6 - 1 month is 64.36, ranking 220th.
Largest Guru Holding AvePoint Inc
The largest guru holding AvePoint Inc is Fisher Asset Management, LLC. The exact share percentage held by the company is not specified.
In conclusion, this transaction by Sixth Street Partners Management Company, L.P. (Trades, Portfolio) has significantly reduced its exposure to AvePoint Inc. However, the firm still holds a substantial stake in the company, indicating a continued belief in its potential. Investors should monitor AvePoint Inc's performance and financial health closely to make informed investment decisions.