Insider Selling: AvePoint (NASDAQ:AVPT) Insider Sells $1,107,967.56 in Stock

Key Points

• AvePoint insider Brian Brown sold 72,606 shares at an average price of $15.26, generating $1.11 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 21.86% to 259,604 shares.
• AvePoint shares recently traded near their 52-week high at $15.23, with a $3.22 billion market capitalization. The company exceeded quarterly earnings and revenue expectations, reporting $0.12 EPS and $124.5 million in revenue.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $16.25; institutional investors own approximately 44.49% of the stock.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) insider Brian Brown sold 72,606 shares of the firm's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total value of $1,107,967.56. Following the transaction, the insider owned 259,604 shares of the company's stock, valued at $3,961,557.04. This trade represents a 21.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 16th, Brian Brown sold 3,500 shares of AvePoint stock. The stock was sold at an average price of $15.20, for a total value of $53,200.00.
• On Tuesday, October 6th, Brian Brown sold 28,894 shares of AvePoint stock. The stock was sold at an average price of $15.15, for a total value 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 value of $141,100.00.
• On Wednesday, September 23rd, Brian Brown sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $13.07, for a total value 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 value 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 Performance

AvePoint stock traded up $0.49 during trading on Tuesday, reaching $15.23. 2,195,492 shares of the company's stock were exchanged, compared to its average volume of 2,083,700. AvePoint, Inc. has a 52-week low of $8.84 and a 52-week high of $15.49. The company's 50-day moving average is $13.65 and its two-hundred day moving average is $11.95. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 47.60 and a beta of 1.17.

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

Analysts Set New Price Targets

Several brokerages have weighed in on AVPT. BMO Capital Markets initiated coverage on AvePoint in a research note on Tuesday, October 6th. They set an "outperform" rating and a $17.00 target price on the stock. Evercore restated an "outperform" rating and issued a $16.00 target price on shares of AvePoint in a report on Friday, August 7th. DA Davidson reiterated a "buy" rating and set a $18.00 price target on shares of AvePoint in a report on Monday, July 6th. Phillip Securities upgraded shares of AvePoint to a "moderate buy" rating in a research note on Monday, October 5th. Finally, Zacks Research downgraded shares of AvePoint from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.25.

Institutional Investors Weigh In On AvePoint

A number of institutional investors and hedge funds have recently modified their holdings of AVPT. Bank of New York Mellon Corp acquired a new stake in AvePoint during the 2nd quarter worth approximately $8,848,000. Quantinno Capital Management LP lifted its stake in AvePoint by 307.0% in the 1st quarter. Quantinno Capital Management LP now owns 109,317 shares of the company's stock valued at $1,040,000 after purchasing an additional 82,457 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of AvePoint by 106.7% in the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company's stock valued at $31,125,000 after buying an additional 1,433,299 shares during the period. Scholtz & Company LLC acquired a new position in AvePoint during the 2nd quarter worth about $1,975,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of AvePoint by 83.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 232,250 shares of the company's stock worth $2,209,000 after buying an additional 105,471 shares during the period. 44.49% of the stock is owned by institutional investors.

AvePoint Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.