AvePoint (NASDAQ:AVPT) Chairman Sells $854,803.23 in Stock

Key Points

• Xunkai Gong, Chairman of AvePoint, sold 55,833 shares for approximately $854,803 on October 6, reducing his ownership by 0.37% to over 15 million shares valued at about $231 million.
• AvePoint's stock has a market capitalization of $3.23 billion, with recent trading activity showing a price of $15.25, and it has a consensus target price of $20.67.
• The company received upgrades from several analysts, with ratings reflecting a mix of Strong Buy, Buy, Hold, and one Sell, emphasizing a generally positive outlook.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Chairman Xunkai Gong sold 55,833 shares of AvePoint stock in a transaction on Monday, October 6th. The stock was sold at an average price of $15.31, for a total value of $854,803.23. Following the transaction, the chairman directly owned 15,104,835 shares of the company's stock, valued at $231,255,023.85. This trade represents a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, October 7th, Xunkai Gong sold 4,167 shares of AvePoint stock. The shares were sold at an average price of $15.08, for a total transaction of $62,838.36.
• 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 stock was sold at an average price of $15.34, for a total value of $490,113.00.
• On Thursday, September 18th, Xunkai Gong sold 2,068,966 shares of AvePoint stock. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86.

AvePoint Price Performance

NASDAQ AVPT traded up $0.45 on Wednesday, reaching $15.25. The company had a trading volume of 917,889 shares, compared to its average volume of 1,349,892. The firm has a market capitalization of $3.23 billion, a PE 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. The firm has a 50-day moving average of $15.86 and a 200-day moving average of $16.86.

Institutional Trading of AvePoint

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of AvePoint by 5.3% during the first quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company's stock worth $97,769,000 after purchasing an additional 340,509 shares during the period. Invesco Ltd. lifted its holdings in 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 buying an additional 3,657,692 shares during the period. Parsifal Capital Management LP lifted its holdings in AvePoint by 130.3% in the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company's stock worth $73,366,000 after buying an additional 2,874,842 shares during the period. Geode Capital Management LLC lifted its holdings in AvePoint by 6.1% in the second quarter. Geode Capital Management LLC now owns 3,122,598 shares of the company's stock worth $60,304,000 after buying an additional 179,694 shares during the period. Finally, Jennison Associates LLC lifted its holdings in AvePoint by 37.0% in the second quarter. Jennison Associates LLC now owns 2,908,473 shares of the company's stock worth $56,163,000 after buying an additional 786,016 shares during the period. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVPT has been the subject of several research analyst reports. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Jefferies Financial Group initiated coverage on AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price target on the stock. B. Riley initiated coverage on AvePoint in a research report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price target on the stock. DA Davidson initiated coverage on AvePoint in a research report on Monday, September 22nd. They set a "buy" rating and a $20.00 price target on the stock. Finally, Dbs Bank raised AvePoint to a "moderate buy" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, AvePoint presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

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.

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