Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Director Sells 500,000 Shares of Stock

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Director Jeff Epstein sold 500,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the completion of the sale, the director now owns 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AvePoint Trading Up 2.0%

AVPT traded up $0.38 during midday trading on Friday, hitting $19.33. 645,811 shares of the company traded hands, compared to its average volume of 1,247,291. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -387.22 and a beta of 1.34. The business has a 50 day simple moving average of $16.67 and a two-hundred day simple moving average of $17.02. AvePoint, Inc. has a 52-week low of $8.93 and a 52-week high of $20.25.

Analysts Set New Price Targets

Several research firms have recently commented on AVPT. Citigroup dropped their price objective on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. The Goldman Sachs Group increased their price target on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Finally, Scotiabank boosted their price objective on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AvePoint presently has an average rating of "Moderate Buy" and an average target price of $17.40.

Hedge Funds Weigh In On AvePoint

Several hedge funds and other institutional investors have recently made changes to their positions in AVPT. Global Retirement Partners LLC purchased a new stake in shares of AvePoint during the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in AvePoint during the 4th quarter worth $29,000. Versant Capital Management Inc purchased a new stake in shares of AvePoint during the first quarter worth $31,000. Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint in the fourth quarter valued at about $40,000. Finally, Summit Securities Group LLC lifted its stake in shares of AvePoint by 621.7% in the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after buying an additional 2,263 shares in the last quarter. Hedge funds and other institutional investors 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.