AvePoint (NASDAQ:AVPT) Insider Sells $544,600.00 in Stock

Key Points

• AvePoint insider Brian Michael Brown sold 35,000 shares of stock for $544,600 on September 23, reducing his ownership by 5.23% to 633,741 shares.
• The stock price of AvePoint (AVPT) was $15.22 during midday trading, with a recent market cap of $3.23 billion and a 52-week price range between $11.43 and $20.25.
• Analysts have a consensus "Buy" rating for AvePoint with an average price target of $20.67, influenced by several firms initiating coverage with high target prices.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $15.56, for a total value of $544,600.00. Following the transaction, the insider directly owned 633,741 shares of the company's stock, valued at approximately $9,861,009.96. This represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, September 18th, Brian Michael Brown sold 500,000 shares of AvePoint stock. The stock was sold at an average price of $15.21, for a total value of $7,605,000.00.
• 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 value of $541,450.00.
• 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.

AvePoint Stock Performance

AVPT stock traded down $0.06 during midday trading on Thursday, hitting $15.22. 1,162,651 shares of the stock were exchanged, compared to its average volume of 1,351,304. The stock's 50-day moving average price is $16.52 and its 200-day moving average price is $16.81. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -304.34 and a beta of 1.40. AvePoint, Inc. has a fifty-two week low of $11.43 and a fifty-two week high of $20.25.

Analysts Set New Price Targets

Several research firms have weighed in on AVPT. B. Riley began coverage on AvePoint in a research report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price target for the company. DA Davidson began coverage on AvePoint in a research note on Monday. They issued a "buy" rating and a $20.00 price target on the stock. Jefferies Financial Group began coverage on AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price target on the stock. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Citigroup cut their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, AvePoint presently has a consensus rating of "Buy" and an average price target of $20.67.

Institutional Trading of AvePoint

Several institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in AvePoint by 93.0% during the second quarter. Osaic Holdings Inc. now owns 19,267 shares of the company's stock valued at $372,000 after buying an additional 9,284 shares in the last quarter. Caxton Associates LLP raised its stake in AvePoint by 108.8% during the second quarter. Caxton Associates LLP now owns 50,778 shares of the company's stock valued at $981,000 after buying an additional 26,455 shares in the last quarter. Castleark Management LLC acquired a new stake in AvePoint during the second quarter valued at approximately $6,102,000. Tower Research Capital LLC TRC raised its position in shares of AvePoint by 93.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,933 shares of the company's stock worth $288,000 after purchasing an additional 7,210 shares during the period. Finally, Oxford Asset Management LLP acquired a new stake in shares of AvePoint during the 2nd quarter worth approximately $283,000. Institutional investors and hedge funds own 44.49% of the company's stock.

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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