Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Insider Sells 35,000 Shares of Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $18.19, for a total value of $636,650.00. Following the sale, the insider now owns 1,277,145 shares in the company, valued at approximately $23,231,267.55. This represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, April 23rd, Brian Michael Brown sold 35,000 shares of AvePoint stock. The shares were sold at an average price of $15.11, for a total value of $528,850.00.
• On Monday, March 24th, Brian Michael Brown sold 35,000 shares of AvePoint stock. The stock was sold at an average price of $15.40, for a total transaction of $539,000.00.

AvePoint Price Performance

AVPT traded down $0.07 on Wednesday, hitting $18.59. The company had a trading volume of 1,548,293 shares, compared to its average volume of 1,245,744. AvePoint, Inc. has a 52-week low of $8.87 and a 52-week high of $20.25. The firm has a market capitalization of $3.78 billion, a P/E ratio of -371.73 and a beta of 1.30. The stock has a fifty day simple moving average of $16.13 and a 200-day simple moving average of $16.88.

Institutional Investors Weigh In On AvePoint

Several hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in AvePoint in the fourth quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in shares of AvePoint during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new stake in AvePoint during the 1st quarter valued at $31,000. Summit Securities Group LLC boosted its position 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 valued at $38,000 after buying an additional 2,263 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of AvePoint during the 4th quarter valued at about $40,000. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.