AvePoint (NASDAQ:AVPT) CEO Tianyi Jiang Sells 2,068,966 Shares

Key Points

• Tianyi Jiang, the CEO of AvePoint, sold 2,068,966 shares of the company's stock for approximately $31.47 million, reducing his ownership by 13% to around 13.84 million shares.
• AvePoint's stock price is currently around $15.75, showing a 52-week trading range between $11.43 and $20.25, with a market capitalization of $3.34 billion.
• Several analysts have rated AvePoint stock positively, with a consensus target price of $20.80, indicating a generally favorable outlook despite Citigroup lowering its price target from $19.00 to $18.00.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) CEO Tianyi Jiang sold 2,068,966 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $31,468,972.86. Following the completion of the transaction, the chief executive officer directly owned 13,841,853 shares in the company, valued at $210,534,584.13. This represents a 13.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AvePoint Trading Down 1.4%

Shares of NASDAQ AVPT traded down $0.22 during mid-day trading on Tuesday, reaching $15.53. The company had a trading volume of 504,859 shares, compared to its average volume of 1,351,552. AvePoint, Inc. has a 1-year low of $11.43 and a 1-year high of $20.25. The stock has a market cap of $3.29 billion, a PE ratio of -310.34 and a beta of 1.40. The company has a 50-day moving average price of $16.65 and a two-hundred day moving average price of $16.83.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AVPT. Citigroup cut their price target on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. DA Davidson initiated coverage on AvePoint in a research report on Monday. They issued a "buy" rating and a $20.00 target price for the company. B. Riley began coverage on AvePoint in a research report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

Institutional Trading of AvePoint

A number of institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new stake in AvePoint in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc bought a new position in shares of AvePoint during the 1st quarter valued at $31,000. Summit Securities Group LLC increased its position in AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after buying an additional 2,263 shares during the last quarter. Advisors Asset Management Inc. increased its position in AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock worth $44,000 after buying an additional 919 shares during the last quarter. Finally, Quarry LP increased its position in AvePoint by 2,028.3% during the first quarter. Quarry LP now owns 3,831 shares of the company's stock worth $55,000 after buying an additional 3,651 shares during the last quarter. Institutional investors and hedge funds own 44.49% 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.