AvePoint (NASDAQ:AVPT) Chairman Sells $62,838.36 in Stock

Key Points

• AvePoint Chairman Xunkai Gong sold 4,167 shares of the company's stock for $62,838.36, decreasing his total ownership by 0.03% to approximately 15.1 million shares valued at over $227 million.
• AvePoint's stock price increased by 3.0% to $15.25 during Wednesday's trading, with a total market capitalization of $3.23 billion.
• Recent ratings from analysts indicate a consensus of "Moderate Buy" for AvePoint, with a price target averaging around $20.67.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Chairman Xunkai Gong sold 4,167 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $15.08, for a total value of $62,838.36. Following the sale, the chairman owned 15,100,668 shares of the company's stock, valued at approximately $227,718,073.44. This represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Xunkai Gong also recently made the following trade(s):

• On Monday, October 6th, Xunkai Gong sold 55,833 shares of AvePoint stock. The shares were sold at an average price of $15.31, for a total value of $854,803.23.
• On Tuesday, September 30th, Xunkai Gong sold 28,050 shares of AvePoint stock. The shares were sold at an average price of $14.84, for a total transaction of $416,262.00.
• On Monday, September 29th, Xunkai Gong sold 31,950 shares of AvePoint stock. The shares were sold at an average price of $15.34, for a total transaction of $490,113.00.
• On Thursday, September 18th, Xunkai Gong sold 2,068,966 shares of AvePoint stock. The shares were sold at an average price of $15.21, for a total transaction of $31,468,972.86.

AvePoint Stock Up 3.0%

Shares of NASDAQ:AVPT traded up $0.45 during trading on Wednesday, hitting $15.25. 917,889 shares of the company were exchanged, compared to its average volume of 1,349,892. The business's 50 day moving average is $15.86 and its 200-day moving average is $16.86. The company has a market capitalization of $3.23 billion, a P/E ratio of -304.94 and a beta of 1.41. AvePoint, Inc. has a 1-year low of $11.61 and a 1-year high of $20.25.

Institutional Investors Weigh In On AvePoint

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of AvePoint by 218.0% in the second quarter. Invesco Ltd. now owns 5,335,882 shares of the company's stock worth $103,036,000 after purchasing an additional 3,657,692 shares in the last quarter. Parsifal Capital Management LP grew its position in shares of AvePoint by 130.3% in the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company's stock valued at $73,366,000 after purchasing an additional 2,874,842 shares in the last quarter. Jennison Associates LLC bought a new position in AvePoint in the 1st quarter worth about $30,648,000. Millennium Management LLC increased its holdings in AvePoint by 104.3% during the 1st quarter. Millennium Management LLC now owns 2,058,092 shares of the company's stock worth $29,719,000 after acquiring an additional 1,050,500 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of AvePoint in the first quarter worth $14,907,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

Wall Street Analysts Forecast Growth

AVPT has been the topic of several recent research reports. DA Davidson started coverage on AvePoint in a report on Monday, September 22nd. They set a "buy" rating and a $20.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of AvePoint in a research report on Wednesday. Dbs Bank raised shares of AvePoint to a "moderate buy" rating in a research report on Monday. B. Riley assumed coverage on shares of AvePoint in a research report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.