Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Insider Sells 35,000 Shares of Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the transaction, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. This represents a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AvePoint Stock Performance

NASDAQ:AVPT traded down $0.21 during trading hours on Tuesday, reaching $15.23. The stock had a trading volume of 1,197,733 shares, compared to its average volume of 1,146,386. The stock has a market capitalization of $3.07 billion, a PE ratio of -304.54 and a beta of 1.11. AvePoint, Inc. has a 52 week low of $7.52 and a 52 week high of $19.90. The company has a 50 day moving average price of $17.09 and a two-hundred day moving average price of $15.57.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVPT shares. Citigroup reduced their price objective on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.75.

Institutional Investors Weigh In On AvePoint

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in shares of AvePoint in the 3rd quarter worth $48,226,000. Arrowstreet Capital Limited Partnership raised its position in shares of AvePoint by 566.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after buying an additional 2,276,258 shares in the last quarter. Parsifal Capital Management LP bought a new position in shares of AvePoint in the 4th quarter valued at about $36,419,000. Raymond James Financial Inc. bought a new stake in AvePoint during the fourth quarter worth approximately $18,067,000. Finally, Gotham Asset Management LLC raised its position in AvePoint by 4,694.5% during the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company’s stock valued at $13,884,000 after purchasing an additional 823,423 shares during the period. Institutional investors own 44.49% of the company’s stock.

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.