Insider Selling: AvePoint (NASDAQ:AVPT) Chairman Sells $581,838.84 in Stock

AvePoint, Inc. (NASDAQ:AVPT) Chairman Xunkai Gong sold 41,679 shares of AvePoint stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $13.96, for a total value of $581,838.84. Following the completion of the sale, the chairman owned 15,058,989 shares of the company’s stock, valued at approximately $210,223,486.44. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, November 4th, Xunkai Gong sold 18,321 shares of AvePoint stock. The stock was sold at an average price of $13.80, for a total value of $252,829.80.
• 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 transaction of $62,838.36.
• On Monday, October 6th, Xunkai Gong sold 55,833 shares of AvePoint stock. The shares were 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 shares were 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 Trading Down 12.7%

AVPT opened at $12.08 on Friday. The company has a fifty day moving average price of $15.05 and a two-hundred day moving average price of $16.85. AvePoint, Inc. has a 1-year low of $11.49 and a 1-year high of $20.25. The company has a market cap of $2.56 billion, a P/E ratio of -241.60 and a beta of 1.40.

AvePoint (NASDAQ:AVPT) last issued its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). AvePoint had a net margin of 0.55% and a return on equity of 0.71%. The firm had revenue of $109.73 million during the quarter, compared to analyst estimates of $105.72 million. AvePoint has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts forecast that AvePoint, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On AvePoint

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in AvePoint by 218.0% during the 2nd quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock worth $103,036,000 after acquiring an additional 3,657,692 shares during the last quarter. Parsifal Capital Management LP raised its holdings in shares of AvePoint by 130.3% in 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 last quarter. Jennison Associates LLC bought a new position in shares of AvePoint during the first quarter valued at about $30,648,000. Millennium Management LLC lifted its position in shares of AvePoint by 104.3% during the first quarter. Millennium Management LLC now owns 2,058,092 shares of the company’s stock valued at $29,719,000 after purchasing an additional 1,050,500 shares in the last quarter. Finally, Nuveen LLC purchased a new position in AvePoint during the first quarter worth about $14,907,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVPT. Robert W. Baird started coverage on AvePoint in a report on Monday, October 27th. They set a “neutral” rating and a $17.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of AvePoint in a research note on Monday, July 21st. They set a “buy” rating and a $22.00 price target for the company. Citigroup lowered their price objective on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, August 18th. Wall Street Zen lowered shares of AvePoint from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, B. Riley assumed coverage on shares of AvePoint in a report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AvePoint currently has an average rating of “Moderate Buy” and a consensus price target of $19.03.

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.