Xunkai Gong Sells 28,050 Shares of AvePoint (NASDAQ:AVPT) Stock

Key Points

• Xunkai Gong, Chairman of AvePoint, sold 28,050 shares on September 30th for a total value of $416,262, decreasing his overall position by 0.18%.
• AvePoint's stock has a market cap of $3.15 billion, recently trading at $14.86, with analyst ratings showing a consensus of "Buy" and a price target of $20.67.
• Recent institutional trading has increased interest in AvePoint, with institutions owning 44.49% of the company's stock, as multiple funds have adjusted their positions significantly.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) Chairman Xunkai Gong sold 28,050 shares of AvePoint stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $14.84, for a total value of $416,262.00. Following the completion of the transaction, the chairman owned 15,160,668 shares in the company, valued at approximately $224,984,313.12. This represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Xunkai Gong also recently made the following trade(s):

• On Monday, September 29th, Xunkai Gong sold 31,950 shares of AvePoint stock. The stock was sold at an average price of $15.34, for a total value of $490,113.00.
• On Thursday, September 18th, Xunkai Gong sold 2,068,966 shares of AvePoint stock. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86.

AvePoint Stock Up 1.0%

Shares of AVPT traded up $0.14 during trading hours on Thursday, hitting $14.86. The company had a trading volume of 887,743 shares, compared to its average volume of 1,352,595. The firm has a market cap of $3.15 billion, a P/E ratio of -297.14 and a beta of 1.41. The stock's 50 day moving average price is $16.14 and its 200 day moving average price is $16.85. AvePoint, Inc. has a 52-week low of $11.43 and a 52-week high of $20.25.

Analyst Upgrades and Downgrades

AVPT has been the topic of several analyst reports. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a report on Friday, July 25th. DA Davidson assumed coverage on AvePoint in a report on Monday, September 22nd. They set a "buy" rating and a $20.00 price target on the stock. B. Riley assumed coverage on AvePoint in a report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price target on the stock. Citigroup reduced their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Finally, Jefferies Financial Group assumed coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVPT. Versant Capital Management Inc bought a new stake in shares of AvePoint in the 1st quarter worth approximately $31,000. Advisors Asset Management Inc. boosted its position in shares of AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock worth $44,000 after purchasing an additional 919 shares in the last quarter. Summit Securities Group LLC boosted its position 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 worth $38,000 after purchasing an additional 2,263 shares in the last quarter. Quarry LP boosted its position in shares of 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. Finally, KBC Group NV bought a new position in AvePoint in the 1st quarter valued at approximately $67,000. Hedge funds and other institutional investors own 44.49% of the company's stock.

About AvePoint

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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