Insider Selling: AvePoint (NASDAQ:AVPT) Insider Sells 10,000 Shares of Company Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $13.07, for a total value of $130,700.00. Following the transaction, the insider directly owned 374,604 shares in the company, valued at $4,896,074.28. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 27th, Brian Brown sold 60,000 shares of AvePoint stock. The shares were 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 transaction of $133,000.00.
• On Wednesday, July 29th, Brian Brown sold 5,176 shares of AvePoint stock. The stock was sold at an average price of $13.06, for a total transaction of $67,598.56.
• On Tuesday, July 28th, Brian Brown sold 4,824 shares of AvePoint stock. The stock was sold at an average price of $13.08, for a total transaction of $63,097.92.

AvePoint Price Performance

AVPT stock traded down $0.16 during trading hours on Friday, reaching $13.00. The stock had a trading volume of 2,590,499 shares, compared to its average volume of 2,035,622. The stock has a 50-day simple moving average of $13.19 and a 200 day simple moving average of $11.47. AvePoint, Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $15.58. The stock has a market capitalization of $2.75 billion, a PE ratio of 40.63 and a beta of 1.19.

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

Hedge Funds Weigh In On AvePoint

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in AvePoint by 106.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after buying an additional 1,433,299 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AvePoint by 25.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after buying an additional 666,422 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of AvePoint by 620.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock worth $29,733,000 after buying an additional 1,843,641 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of AvePoint by 16.4% in the first quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock valued at $24,537,000 after acquiring an additional 363,200 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of AvePoint by 335.2% in the first quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after acquiring an additional 1,842,124 shares during the period. Institutional investors own 44.49% of the company’s stock.

Analyst Ratings Changes

AVPT has been the subject of several research analyst reports. Zacks Research downgraded AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings upgraded AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Evercore reaffirmed an “outperform” rating and set a $16.00 price objective on shares of AvePoint in a research report on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of AvePoint in a report on Tuesday. Finally, DA Davidson reissued a “buy” rating and issued a $18.00 price objective on shares of AvePoint in a research report on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.36.

About AvePoint

AvePoint, Inc provides data management, governance, protection and migration software for organizations using cloud collaboration and productivity platforms. Its solutions are designed to help businesses, government agencies and educational institutions manage data throughout its lifecycle, improve security and compliance, and support digital transformation initiatives.

The company’s product portfolio supports platforms including Microsoft 365, Microsoft Dynamics 365, Salesforce and Google Workspace.