Insider Selling: AvePoint (NASDAQ:AVPT) Insider Sells 35,000 Shares of Stock

Key Points

• Brian Michael Brown, an insider at AvePoint, sold 35,000 shares of the company's stock for a total of $541,450, reducing his ownership to approximately 1,155,443 shares.
• AvePoint's stock has seen significant fluctuations, with a 1-year low of $10.65 and a high of $20.25, currently trading around $15.36.
• Analyst ratings for AvePoint include a mix of upgrades, with Goldman Sachs raising its target price to $17.00 and B. Riley initiating coverage with a buy rating and a target price of $25.00.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $15.47, for a total value of $541,450.00. Following the completion of the transaction, the insider owned 1,155,443 shares in the company, valued at $17,874,703.21. The trade was a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian Michael Brown also recently made the following trade(s):

• On Wednesday, July 23rd, Brian Michael Brown sold 35,000 shares of AvePoint stock. The stock was sold at an average price of $18.74, for a total value of $655,900.00.
• On Monday, June 23rd, Brian Michael Brown sold 35,000 shares of AvePoint stock. The stock was sold at an average price of $18.23, for a total value of $638,050.00.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded up $0.26 during mid-day trading on Monday, reaching $16.36. The company had a trading volume of 1,702,038 shares, compared to its average volume of 1,683,191. The business's 50-day simple moving average is $17.53 and its 200 day simple moving average is $16.93. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -327.13 and a beta of 1.40. AvePoint, Inc. has a one year low of $11.27 and a one year high of $20.25.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVPT. Scotiabank raised their price objective on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday, May 9th. The Goldman Sachs Group raised their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Citigroup reduced their price objective on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Finally, B. Riley assumed coverage on AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.80.

Institutional Trading of AvePoint

A number of hedge funds have recently made changes to their positions in AVPT. Invesco Ltd. boosted its stake in shares of AvePoint by 218.0% during the second quarter. Invesco Ltd. now owns 5,335,882 shares of the company's stock valued at $103,036,000 after purchasing an additional 3,657,692 shares in the last quarter. Parsifal Capital Management LP boosted its stake in shares of AvePoint by 130.3% during 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 acquired a new stake in shares of AvePoint during the first quarter valued at about $30,648,000. Millennium Management LLC boosted its stake in shares of AvePoint by 104.3% during the first quarter. Millennium Management LLC now owns 2,058,092 shares of the company's stock valued at $29,719,000 after purchasing an additional 1,050,500 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of AvePoint in the first quarter worth approximately $14,907,000. 44.49% of the stock is 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.