AvePoint (NASDAQ:AVPT) Insider Brian Michael Brown Sells 35,000 Shares of Company Stock

Key Points

• Insider Brian Michael Brown sold 35,000 AvePoint shares at an average price of $16.42, generating $574,700. The Rule 10b5-1 transaction reduced his holdings by 13.48% to 224,604 shares.
• Brown has made several additional sales in recent months, including 72,606 shares on October 20, bringing the reported series of sales to more than 240,000 shares.
• AvePoint shares rose 2.1% to $16.85, near their 52-week high, while analysts maintained a consensus “Moderate Buy” rating and a $16.58 price target.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) insider Brian Brown sold 35,000 shares of AvePoint stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $16.42, for a total value of $574,700.00. Following the sale, the insider owned 224,604 shares of the company's stock, valued at approximately $3,687,997.68. This represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Brian Brown sold 72,606 shares of AvePoint stock. The shares were sold at an average price of $15.26, for a total transaction of $1,107,967.56.
• On Friday, October 16th, Brian Brown sold 3,500 shares of AvePoint stock. The shares were sold at an average price of $15.20, for a total transaction of $53,200.00.
• On Tuesday, October 6th, Brian Brown sold 28,894 shares of AvePoint stock. The shares were sold at an average price of $15.15, for a total transaction of $437,744.10.
• On Wednesday, September 30th, Brian Brown sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $14.11, for a total transaction of $141,100.00.
• On Wednesday, September 23rd, Brian Brown sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $13.07, for a total transaction of $130,700.00.
• On Thursday, August 27th, Brian Brown sold 60,000 shares of AvePoint stock. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00.
• On Monday, August 24th, Brian Brown sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $13.30, for a total transaction of $133,000.00.
• On Wednesday, July 29th, Brian Brown sold 5,176 shares of AvePoint stock. The shares were sold at an average price of $13.06, for a total transaction of $67,598.56.
• On Tuesday, July 28th, Brian Brown sold 4,824 shares of AvePoint stock. The shares were sold at an average price of $13.08, for a total transaction of $63,097.92.

AvePoint Stock Up 2.1%

Shares of AVPT traded up $0.34 on Monday, hitting $16.85. 2,049,559 shares of the stock traded hands, compared to its average volume of 2,481,993. AvePoint, Inc. has a 1 year low of $8.84 and a 1 year high of $16.89. The stock's 50 day moving average is $13.85 and its two-hundred day moving average is $12.12. The firm has a market capitalization of $3.56 billion, a P/E ratio of 51.59 and a beta of 1.17.

AvePoint (NASDAQ:AVPT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. The firm had revenue of $124.50 million during the quarter, compared to analysts' expectations of $121.38 million. Research analysts forecast that AvePoint, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore reissued an "outperform" rating and issued a $16.00 target price on shares of AvePoint in a research report on Friday, August 7th. Stephens upped their price target on shares of AvePoint from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Monday, September 21st. BMO Capital Markets assumed coverage on shares of AvePoint in a research note on Tuesday, October 6th. They set an "outperform" rating and a $17.00 price target on the stock. Citigroup reiterated a "neutral" rating on shares of AvePoint in a report on Wednesday, August 12th. Finally, Phillip Securities upgraded shares of AvePoint to a "moderate buy" rating in a report on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.58.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of AvePoint by 21.2% during the 3rd quarter. Signaturefd LLC now owns 5,739 shares of the company's stock worth $81,000 after purchasing an additional 1,005 shares during the period. Sterling Capital Management LLC increased its position in AvePoint by 822.1% during the 3rd quarter. Sterling Capital Management LLC now owns 5,496 shares of the company's stock worth $77,000 after purchasing an additional 4,900 shares in the last quarter. Isthmus Partners LLC purchased a new position in AvePoint in the third quarter valued at approximately $2,518,000. Nisa Investment Advisors LLC raised its holdings in AvePoint by 42.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,983 shares of the company's stock valued at $84,000 after buying an additional 1,782 shares during the period. Finally, Ausbil Investment Management Ltd purchased a new position in AvePoint in the third quarter valued at approximately $358,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

About AvePoint

AvePoint, Inc NASDAQ: AVPT is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company's product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.

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