AvePoint (NASDAQ:AVPT) Chairman Xunkai Gong Sells 4,167 Shares of Stock

AvePoint, Inc. (NASDAQ:AVPT) Chairman Xunkai Gong sold 4,167 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $15.08, for a total transaction of $62,838.36. Following the transaction, the chairman directly owned 15,100,668 shares of the company’s stock, valued at approximately $227,718,073.44. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 6th, Xunkai Gong sold 55,833 shares of AvePoint stock. The stock was sold at an average price of $15.31, for a total transaction of $854,803.23.
• On Tuesday, September 30th, Xunkai Gong sold 28,050 shares of AvePoint stock. The stock was sold at an average price of $14.84, for a total transaction of $416,262.00.
• 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 transaction 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 transaction of $31,468,972.86.

AvePoint Price Performance

Shares of AVPT opened at $15.25 on Thursday. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -304.94 and a beta of 1.41. AvePoint, Inc. has a 1-year low of $11.61 and a 1-year high of $20.25. The firm has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $16.85.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVPT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AvePoint in a research note on Wednesday. Dbs Bank raised shares of AvePoint to a “moderate buy” rating in a research note on Monday. B. Riley began coverage on shares of AvePoint in a research note on Tuesday, August 26th. They issued a “buy” rating and a $25.00 target price for the company. Citigroup lowered their target price on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, August 18th. Finally, Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Institutional Trading of AvePoint

Institutional investors have recently made changes to their positions in the stock. TT International Asset Management LTD acquired a new position in shares of AvePoint during the 3rd quarter valued at $2,094,000. Osaic Holdings Inc. lifted its holdings in shares of AvePoint by 93.0% during the 2nd quarter. Osaic Holdings Inc. now owns 19,267 shares of the company’s stock valued at $372,000 after acquiring an additional 9,284 shares in the last quarter. Caxton Associates LLP lifted its holdings in shares of AvePoint by 108.8% during the 2nd quarter. Caxton Associates LLP now owns 50,778 shares of the company’s stock valued at $981,000 after acquiring an additional 26,455 shares in the last quarter. Castleark Management LLC acquired a new position in shares of AvePoint during the 2nd quarter valued at $6,102,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of AvePoint by 93.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,933 shares of the company’s stock valued at $288,000 after acquiring an additional 7,210 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.