AvePoint (NASDAQ:AVPT) Chairman Xunkai Gong Sells 55,833 Shares of Stock

AvePoint, Inc. (NASDAQ:AVPT) Chairman Xunkai Gong sold 55,833 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $15.31, for a total value of $854,803.23. Following the completion of the transaction, the chairman owned 15,104,835 shares in the company, valued at $231,255,023.85. This trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, October 7th, Xunkai Gong sold 4,167 shares of AvePoint stock. The shares were sold at an average price of $15.08, for a total value of $62,838.36.
• On Tuesday, September 30th, Xunkai Gong sold 28,050 shares of AvePoint stock. The shares were sold at an average price of $14.84, for a total value of $416,262.00.
• On Monday, September 29th, Xunkai Gong sold 31,950 shares of AvePoint stock. The shares were sold at an average price of $15.34, for a total value of $490,113.00.
• On Thursday, September 18th, Xunkai Gong sold 2,068,966 shares of AvePoint stock. The shares were sold at an average price of $15.21, for a total value of $31,468,972.86.

AvePoint Stock Up 3.0%

Shares of AVPT stock opened at $15.25 on Thursday. The stock has a market capitalization of $3.23 billion, a PE ratio of -304.94 and a beta of 1.41. AvePoint, Inc. has a 52-week low of $11.61 and a 52-week high of $20.25. The stock’s 50-day moving average price is $15.78 and its 200 day moving average price is $16.85.

Institutional Investors Weigh In On AvePoint

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of AvePoint by 5.3% in the 1st quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company’s stock worth $97,769,000 after acquiring an additional 340,509 shares during the period. Invesco Ltd. lifted its stake in AvePoint by 218.0% in the 2nd quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock valued at $103,036,000 after buying an additional 3,657,692 shares in the last quarter. Parsifal Capital Management LP lifted its stake in AvePoint by 130.3% in the 1st quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock valued at $73,366,000 after buying an additional 2,874,842 shares in the last quarter. Geode Capital Management LLC lifted its stake in AvePoint by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,122,598 shares of the company’s stock valued at $60,304,000 after buying an additional 179,694 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in AvePoint by 37.0% in the 2nd quarter. Jennison Associates LLC now owns 2,908,473 shares of the company’s stock valued at $56,163,000 after buying an additional 786,016 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AVPT has been the topic of several recent analyst reports. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a research report on Monday. Jefferies Financial Group initiated coverage on AvePoint in a research report on Monday, July 21st. They set a “buy” rating and a $22.00 target price on the stock. Citigroup dropped their target price on AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, August 18th. Cantor Fitzgerald upgraded AvePoint to a “strong-buy” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of AvePoint in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.