AvePoint (NASDAQ:AVPT) CEO Tianyi Jiang Sells 2,068,966 Shares

AvePoint, Inc. (NASDAQ:AVPT) CEO Tianyi Jiang sold 2,068,966 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $31,468,972.86. Following the completion of the transaction, the chief executive officer directly owned 13,841,853 shares of the company’s stock, valued at approximately $210,534,584.13. The trade was a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

AvePoint Price Performance

AVPT stock opened at $15.58 on Wednesday. AvePoint, Inc. has a 1 year low of $11.43 and a 1 year high of $20.25. The company has a market cap of $3.30 billion, a P/E ratio of -311.54 and a beta of 1.40. The firm has a 50-day moving average of $16.59 and a 200 day moving average of $16.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVPT. Heck Capital Advisors LLC bought a new position in AvePoint in the fourth quarter worth approximately $29,000. Versant Capital Management Inc bought a new position in AvePoint in the first quarter worth approximately $31,000. Advisors Asset Management Inc. raised its position in AvePoint by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock worth $44,000 after acquiring an additional 919 shares during the period. Summit Securities Group LLC raised its position in 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 acquiring an additional 2,263 shares during the period. Finally, Quarry LP raised its position in AvePoint by 2,028.3% in the first quarter. Quarry LP now owns 3,831 shares of the company’s stock worth $55,000 after acquiring an additional 3,651 shares during the period. Institutional investors own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of AvePoint in a report on Monday, July 21st. They issued a “buy” rating and a $22.00 price objective on the stock. DA Davidson assumed coverage on shares of AvePoint in a report on Monday. They issued a “buy” rating and a $20.00 price objective on the stock. B. Riley assumed coverage on shares of AvePoint in a report on Tuesday, August 26th. They issued a “buy” rating and a $25.00 price objective on the stock. Citigroup cut their price objective on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 18th. Finally, Cantor Fitzgerald upgraded shares of AvePoint to a “strong-buy” rating in a report on Friday, July 25th. One equities research 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. According to MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and an average price target of $20.67.

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.