28,700 Shares in AvePoint, Inc. $AVPT Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al purchased 28,700 shares of AvePoint, Inc. (NASDAQ:AVPT) valued at approximately $554,000 during the 2nd quarter.
• CEO Tianyi Jiang sold 2,068,966 shares of AvePoint for around $31.5 million, reducing his ownership by 13%.
• Wall Street analysts have varied ratings for AvePoint, with a consensus target price of $20.33 and some analysts issuing "buy" ratings while others maintain a "sell" rating.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in AvePoint, Inc. (NASDAQ:AVPT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,700 shares of the company's stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVPT. Summit Securities Group LLC raised its stake in shares of AvePoint by 621.7% in 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. Quarry LP raised its stake in shares of AvePoint by 2,028.3% in the 1st quarter. Quarry LP now owns 3,831 shares of the company's stock valued at $55,000 after purchasing an additional 3,651 shares during the period. KBC Group NV acquired a new stake in shares of AvePoint in the 1st quarter valued at about $67,000. Catalyst Capital Advisors LLC acquired a new stake in shares of AvePoint in the 1st quarter valued at about $100,000. Finally, CWM LLC raised its stake in shares of AvePoint by 109.4% in the 1st quarter. CWM LLC now owns 7,328 shares of the company's stock valued at $106,000 after purchasing an additional 3,829 shares during the period. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Trading Up 0.2%

NASDAQ AVPT opened at $14.90 on Friday. AvePoint, Inc. has a 1-year low of $11.89 and a 1-year high of $20.25. The company has a 50 day moving average of $15.35 and a 200-day moving average of $16.86. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -297.94 and a beta of 1.41.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup dropped 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. Dbs Bank raised AvePoint to a "moderate buy" rating in a research report on Monday, October 6th. B. Riley started coverage on AvePoint in a research report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AvePoint in a research report on Friday. Finally, Jefferies Financial Group started coverage on AvePoint in a research report on Monday, July 21st. They issued a "buy" rating and a $22.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AvePoint presently has an average rating of "Moderate Buy" and a consensus target price of $20.33.

Insider Buying and Selling

In other news, CEO Tianyi Jiang sold 2,068,966 shares of AvePoint 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 $31,468,972.86. Following the completion of the sale, the chief executive officer directly owned 13,841,853 shares in the company, valued at approximately $210,534,584.13. The trade was a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $15.56, for a total transaction of $544,600.00. Following the completion of the sale, the insider owned 633,741 shares of the company's stock, valued at approximately $9,861,009.96. The trade was a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,693,932 shares of company stock valued at $86,624,872 in the last quarter. Corporate insiders own 26.19% 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.

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