Xunkai Gong Sells 55,833 Shares of AvePoint (NASDAQ:AVPT) Stock

AvePoint, Inc. (NASDAQ:AVPT) Chairman Xunkai Gong sold 55,833 shares of the 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 completion of the sale, the chairman owned 15,104,835 shares of the company’s stock, valued at approximately $231,255,023.85. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $15.21, for a total value of $31,468,972.86.

AvePoint Stock Performance

AvePoint stock opened at $15.18 on Friday. The stock has a 50-day moving average of $15.70 and a two-hundred day moving average of $16.85. AvePoint, Inc. has a one year low of $11.61 and a one year high of $20.25. The stock has a market cap of $3.22 billion, a PE ratio of -303.54 and a beta of 1.41.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVPT. Invesco Ltd. raised its position in 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 acquiring an additional 3,657,692 shares in the last quarter. Parsifal Capital Management LP raised its position in 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 acquiring an additional 2,874,842 shares in the last quarter. Jennison Associates LLC purchased a new position in AvePoint during the first quarter valued at approximately $30,648,000. Millennium Management LLC raised its position in 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 acquiring an additional 1,050,500 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in AvePoint in the first quarter valued at approximately $14,907,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVPT has been the subject of several research analyst reports. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a research note on Monday. Cantor Fitzgerald upgraded AvePoint to a “strong-buy” rating in a research note on Friday, July 25th. Weiss Ratings restated a “sell (d-)” rating on shares of AvePoint in a research note on Wednesday. DA Davidson initiated coverage on AvePoint in a research note on Monday, September 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, B. Riley initiated coverage on AvePoint in a research note on Tuesday, August 26th. They issued a “buy” rating and a $25.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

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.