AvePoint (NASDAQ:AVPT) CEO Sells $31,468,972.86 in Stock

AvePoint, Inc. (NASDAQ:AVPT) CEO Tianyi Jiang sold 2,068,966 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86. Following the completion of the sale, the chief executive officer owned 13,841,853 shares of the company’s stock, valued at $210,534,584.13. The trade was a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

AvePoint Price Performance

NASDAQ:AVPT opened at $15.28 on Thursday. The business has a 50 day moving average of $16.52 and a 200 day moving average of $16.81. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -305.54 and a beta of 1.40. AvePoint, Inc. has a 1-year low of $11.43 and a 1-year high of $20.25.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently bought and sold shares of AVPT. Heck Capital Advisors LLC purchased a new position in shares of AvePoint during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new position in shares of AvePoint during the first quarter valued at approximately $31,000. Summit Securities Group LLC increased its stake in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock valued at $38,000 after buying an additional 2,263 shares during the period. Advisors Asset Management Inc. increased its stake in shares of AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock valued at $44,000 after buying an additional 919 shares during the period. Finally, Quarry LP increased its stake in shares of AvePoint by 2,028.3% during the first quarter. Quarry LP now owns 3,831 shares of the company’s stock valued at $55,000 after buying an additional 3,651 shares during the period. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVPT. B. Riley began coverage on AvePoint in a research report on Tuesday, August 26th. They issued a “buy” rating and a $25.00 target price for the company. Cantor Fitzgerald raised AvePoint to a “strong-buy” rating in a research note on Friday, July 25th. Jefferies Financial Group assumed coverage on AvePoint in a research note on Monday, July 21st. They issued a “buy” rating and a $22.00 price target on the stock. DA Davidson assumed coverage on AvePoint in a research note on Monday. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Citigroup decreased their price target on AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target 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.