Insider Selling: AvePoint (NASDAQ:AVPT) Insider Sells $53,200.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Brown sold 3,500 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $15.20, for a total value of $53,200.00. Following the completion of the sale, the insider owned 332,210 shares in the company, valued at approximately $5,049,592. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Brian Brown sold 72,606 shares of AvePoint stock. The shares were sold at an average price of $15.26, for a total value of $1,107,967.56.
• On Tuesday, October 6th, Brian Brown sold 28,894 shares of AvePoint stock. The stock was sold at an average price of $15.15, for a total value of $437,744.10.
• On Wednesday, September 30th, Brian Brown sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $14.11, for a total value of $141,100.00.
• On Wednesday, September 23rd, Brian Brown sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $13.07, for a total value of $130,700.00.
• On Thursday, August 27th, Brian Brown sold 60,000 shares of AvePoint stock. The stock was sold at an average price of $14.20, for a total value of $852,000.00.
• On Monday, August 24th, Brian Brown sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $13.30, for a total value of $133,000.00.
• On Wednesday, July 29th, Brian Brown sold 5,176 shares of AvePoint stock. The shares were sold at an average price of $13.06, for a total value of $67,598.56.
• On Tuesday, July 28th, Brian Brown sold 4,824 shares of AvePoint stock. The shares were sold at an average price of $13.08, for a total value of $63,097.92.

AvePoint Stock Performance

Shares of AvePoint stock opened at $16.08 on Friday. AvePoint, Inc. has a one year low of $8.84 and a one year high of $16.11. The company has a market cap of $3.40 billion, a PE ratio of 50.25 and a beta of 1.17. The business has a 50-day simple moving average of $13.79 and a 200-day simple moving average of $12.08.

AvePoint (NASDAQ:AVPT) last released its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $124.50 million for the quarter, compared to analyst estimates of $121.38 million. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. On average, sell-side analysts predict that AvePoint, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Scotiabank increased their price objective on shares of AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a research report on Friday, August 7th. TD Cowen lifted their price objective on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of AvePoint from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Phillip Securities raised AvePoint to a “moderate buy” rating in a report on Monday, October 5th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently added to or reduced their stakes in AVPT. GAMMA Investing LLC increased its stake in AvePoint by 26.6% in the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after purchasing an additional 802 shares during the last quarter. Versant Capital Management Inc raised its holdings in AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock worth $90,000 after purchasing an additional 1,701 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in AvePoint by 42.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,983 shares of the company’s stock worth $84,000 after purchasing an additional 1,782 shares in the last quarter. Allworth Financial LP raised its holdings in AvePoint by 109.6% during the second quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock worth $57,000 after purchasing an additional 2,649 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after buying an additional 2,689 shares during the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

About AvePoint

AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.