AvePoint (NASDAQ:AVPT) Chairman Sells $854,803.23 in Stock

AvePoint, Inc. (NASDAQ:AVPT) Chairman Xunkai Gong sold 55,833 shares of AvePoint 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 sale, the chairman owned 15,104,835 shares of the company’s stock, valued at approximately $231,255,023.85. This represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, October 7th, Xunkai Gong sold 4,167 shares of AvePoint stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $15.21, for a total value of $31,468,972.86.

AvePoint Stock Performance

AVPT opened at $14.54 on Friday. The business has a 50 day moving average price of $15.63 and a 200 day moving average price of $16.85. AvePoint, Inc. has a twelve month low of $11.61 and a twelve month high of $20.25. The firm has a market cap of $3.08 billion, a P/E ratio of -290.74 and a beta of 1.41.

Analysts Set New Price Targets

AVPT has been the subject of several analyst reports. DA Davidson initiated coverage on AvePoint in a report on Monday, September 22nd. They issued a “buy” rating and a $20.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of AvePoint in a report on Wednesday. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Citigroup cut their price target on AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. Finally, B. Riley began coverage on AvePoint in a report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Institutional Inflows and Outflows

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

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.