AvePoint (NASDAQ:AVPT) Chairman Xunkai Gong Sells 31,950 Shares

Key Points

• AvePoint Chairman Xunkai Gong sold 31,950 shares of the company's stock for approximately $490,113, reducing his ownership by 0.21%.
• As of mid-day trading on Tuesday, AvePoint's stock price decreased 1.6% to $15.01, with a market capitalization of $3.18 billion.
• Several analysts have given AvePoint a consensus rating of "Buy," with varying price targets, including $22.00 and $25.00.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Chairman Xunkai Gong sold 31,950 shares of AvePoint stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $15.34, for a total value of $490,113.00. Following the transaction, the chairman directly owned 15,188,718 shares in the company, valued at approximately $232,994,934.12. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Trading Down 1.6%

NASDAQ:AVPT traded down $0.25 during mid-day trading on Tuesday, reaching $15.01. 1,925,101 shares of the stock were exchanged, compared to its average volume of 1,356,840. The business has a fifty day moving average price of $16.30 and a 200 day moving average price of $16.88. The firm has a market capitalization of $3.18 billion, a PE ratio of -300.14 and a beta of 1.40. AvePoint, Inc. has a 1-year low of $11.43 and a 1-year high of $20.25.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 target price on the stock. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. B. Riley began coverage on AvePoint in a research report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price target for the company. DA Davidson began coverage on AvePoint in a research report on Monday, September 22nd. They issued a "buy" rating and a $20.00 price target for the company. Finally, Citigroup decreased their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $20.67.

Institutional Investors Weigh In On AvePoint

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in AvePoint by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 78,396 shares of the company's stock worth $1,132,000 after acquiring an additional 4,348 shares during the period. Two Sigma Investments LP lifted its holdings in shares of AvePoint by 155.5% during the 4th quarter. Two Sigma Investments LP now owns 108,192 shares of the company's stock valued at $1,786,000 after buying an additional 65,852 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of AvePoint by 282.9% during the 4th quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock valued at $755,000 after buying an additional 33,801 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of AvePoint by 70.1% during the 1st quarter. Cerity Partners LLC now owns 70,454 shares of the company's stock valued at $1,017,000 after buying an additional 29,034 shares during the last quarter. Finally, Pinnacle Wealth Management LLC acquired a new stake in shares of AvePoint during the 1st quarter valued at about $609,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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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