John Chi On Ho Sells 650,000 Shares of AvePoint (NASDAQ:AVPT) Stock

AvePoint, Inc. (NASDAQ:AVPT) Director John Chi On Ho sold 650,000 shares of AvePoint stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $9,886,500.00. Following the completion of the transaction, the director directly owned 3,732,679 shares of the company’s stock, valued at $56,774,047.59. This represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AvePoint Trading Down 1.1%

Shares of NASDAQ:AVPT opened at $15.58 on Wednesday. The stock has a market capitalization of $3.30 billion, a P/E ratio of -311.54 and a beta of 1.40. AvePoint, Inc. has a 1-year low of $11.43 and a 1-year high of $20.25. The business has a 50-day moving average price of $16.59 and a two-hundred day moving average price of $16.82.

Hedge Funds Weigh In On AvePoint

Large investors have recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in AvePoint during the 4th quarter worth approximately $29,000. Versant Capital Management Inc acquired a new position in AvePoint during the 1st quarter worth approximately $31,000. Summit Securities Group LLC boosted its position in AvePoint by 621.7% during the 1st 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 last quarter. Advisors Asset Management Inc. boosted its position in AvePoint by 68.4% during the 2nd 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 last quarter. Finally, Quarry LP boosted its position in AvePoint by 2,028.3% during the 1st 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 last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Analyst Upgrades and Downgrades

AVPT has been the subject of several recent research reports. DA Davidson initiated coverage on AvePoint in a report on Monday. They set a “buy” rating and a $20.00 price objective for the company. Citigroup dropped their price objective on AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. Cantor Fitzgerald raised AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Jefferies Financial Group started coverage on AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 price objective for the company. Finally, B. Riley started coverage on AvePoint in a research note on Tuesday, August 26th. They issued a “buy” rating and a $25.00 price target for the company. One 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

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.