Insider Selling: AvePoint (NASDAQ:AVPT) Chairman Sells 2,068,966 Shares of Stock

Key Points

• Xunkai Gong, the Chairman of AvePoint, sold 2,068,966 shares at an average price of $15.21, totaling approximately $31.47 million, resulting in an 11.97% decrease in his holdings.
• AvePoint's stock performance reflects a current trading price of $15.75 with a 52-week range between $11.43 and $20.25, indicating a volatile market.
• Equities research analysts hold a generally positive view on AvePoint with a consensus rating of "Moderate Buy" and a target price of $20.80, supported by multiple analyst upgrades.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Chairman Xunkai Gong sold 2,068,966 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $31,468,972.86. Following the completion of the sale, the chairman directly owned 15,220,668 shares of the company's stock, valued at approximately $231,506,360.28. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

AvePoint Stock Performance

Shares of AVPT stock traded down $0.22 during mid-day trading on Tuesday, reaching $15.53. The company's stock had a trading volume of 504,859 shares, compared to its average volume of 1,351,552. The firm's 50-day moving average is $16.65 and its two-hundred day moving average is $16.83. The company has a market cap of $3.29 billion, a P/E ratio of -310.34 and a beta of 1.40. AvePoint, Inc. has a 1-year low of $11.43 and a 1-year high of $20.25.

Wall Street Analyst Weigh In

AVPT has been the subject of a number of research reports. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. 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. B. Riley initiated coverage on AvePoint in a report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price objective for the company. DA Davidson initiated coverage on shares of AvePoint in a research report on Monday. They set a "buy" rating and a $20.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on shares of AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

Institutional Trading of AvePoint

A number of institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in shares of AvePoint in the fourth quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in shares of AvePoint in the first quarter valued at $31,000. Summit Securities Group LLC increased its stake in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after purchasing an additional 2,263 shares during the period. Advisors Asset Management Inc. grew its holdings in AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after buying an additional 919 shares in the last quarter. Finally, Quarry LP raised its stake in AvePoint by 2,028.3% in the 1st quarter. Quarry LP now owns 3,831 shares of the company's stock worth $55,000 after purchasing an additional 3,651 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

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.