Insider Selling: AvePoint (NASDAQ:AVPT) Director Sells 650,000 Shares of Stock

Key Points

• AvePoint Director John Chi On Ho sold 650,000 shares of stock for $9,886,500, resulting in a 14.83% decrease in his ownership position.
• Recent analyst opinions include a "strong-buy" rating from Cantor Fitzgerald and a target price adjustment by Citigroup, lowering it from $19.00 to $18.00.
• About 44.49% of AvePoint's shares are owned by institutional investors, indicating strong confidence from large financial entities.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Director John Chi On Ho sold 650,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $9,886,500.00. Following the sale, the director directly owned 3,732,679 shares in the company, valued at $56,774,047.59. This trade represents a 14.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

AvePoint Trading Down 1.4%

Shares of AVPT traded down $0.22 during midday trading on Tuesday, hitting $15.53. 504,859 shares of the company's stock traded hands, 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 firm's fifty day moving average is $16.65 and its 200-day moving average is $16.83. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -310.34 and a beta of 1.40.

Institutional Investors Weigh In On AvePoint

Hedge funds have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new stake in shares of AvePoint in the fourth quarter worth $29,000. Versant Capital Management Inc acquired a new stake in shares of AvePoint in the first quarter valued at about $31,000. Summit Securities Group LLC boosted its stake in AvePoint by 621.7% during the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock valued at $38,000 after purchasing an additional 2,263 shares during the period. Advisors Asset Management Inc. boosted its stake in AvePoint by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after purchasing an additional 919 shares during the period. Finally, Quarry LP lifted its holdings in shares of 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. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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