AvePoint (NASDAQ:AVPT) Insider Brian Michael Brown Sells 10,000 Shares of Company Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Brown sold 10,000 shares of AvePoint 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 completion of the transaction, the insider directly owned 374,604 shares in the company, valued at approximately $4,896,074.28. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value 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 Trading Down 1.2%

Shares of AVPT stock opened at $13.00 on Friday. The firm has a market capitalization of $2.75 billion, a P/E ratio of 40.63 and a beta of 1.19. AvePoint, Inc. has a 1 year low of $8.84 and a 1 year high of $15.58. The firm’s fifty day simple moving average is $13.18 and its 200 day simple moving average is $11.48.

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

Institutional Investors Weigh In On AvePoint

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after buying an additional 2,689 shares during the period. GAMMA Investing LLC grew its position in AvePoint by 26.6% in the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after acquiring an additional 802 shares during the period. Allworth Financial LP grew its position in AvePoint by 109.6% in the second quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock valued at $57,000 after acquiring an additional 2,649 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new position in AvePoint during the fourth quarter worth $112,000. Finally, Versant Capital Management Inc raised its stake in AvePoint by 26.8% during the second quarter. Versant Capital Management Inc now owns 8,044 shares of the company’s stock worth $90,000 after acquiring an additional 1,701 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVPT. TD Cowen lifted their target price on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of AvePoint in a research report on Tuesday. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded AvePoint from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and an average price target of $16.36.

AvePoint Company Profile

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.