AvePoint (NASDAQ:AVPT) Insider Sells $7,605,000.00 in Stock

Key Points

• Insider Brian Michael Brown sold 500,000 shares of AvePoint stock on September 18th for a total of $7,605,000, reducing his ownership by 43.85%.
• AvePoint shares are currently trading at $15.75, with an average target price of $20.80 according to analysts, who have generally rated the stock as a "Moderate Buy."
• Institutional investors hold 44.49% of AvePoint's stock, with several firms increasing their stakes significantly in recent quarters.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) insider Brian Michael Brown sold 500,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $7,605,000.00. Following the completion of the sale, the insider owned 640,288 shares in the company, valued at approximately $9,738,780.48. This represents a 43.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, August 25th, Brian Michael Brown sold 35,000 shares of AvePoint stock. The stock was sold at an average price of $15.47, for a total transaction of $541,450.00.
• On Wednesday, July 23rd, Brian Michael Brown sold 35,000 shares of AvePoint stock. The shares were sold at an average price of $18.74, for a total value of $655,900.00.

AvePoint Price Performance

Shares of NASDAQ:AVPT traded down $0.22 during midday trading on Tuesday, reaching $15.53. The company's stock had a trading volume of 504,859 shares, compared to its average volume of 1,351,552. AvePoint, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $20.25. The business's fifty day simple moving average is $16.65 and its 200-day simple moving average is $16.83. The company has a market capitalization of $3.29 billion, a P/E ratio of -310.34 and a beta of 1.40.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Citigroup cut their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. DA Davidson assumed coverage on shares of AvePoint in a research note on Monday. They set a "buy" rating and a $20.00 price objective for the company. B. Riley initiated coverage on AvePoint in a report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, AvePoint presently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

Institutional Trading of AvePoint

Several large investors have recently modified their holdings of AVPT. Heck Capital Advisors LLC bought a new position in AvePoint during the fourth quarter worth $29,000. Versant Capital Management Inc purchased a new position in AvePoint during the 1st quarter worth $31,000. Summit Securities Group LLC boosted its holdings in AvePoint by 621.7% during the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after acquiring an additional 2,263 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in AvePoint by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock worth $44,000 after acquiring an additional 919 shares during the last quarter. Finally, Quarry LP boosted its holdings in AvePoint by 2,028.3% during the 1st quarter. Quarry LP now owns 3,831 shares of the company's stock worth $55,000 after acquiring an additional 3,651 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

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.