Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Insider Sells 20,000 Shares of Stock

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $7.86, for a total value of $157,200.00. Following the completion of the transaction, the insider now owns 1,351,240 shares of the company’s stock, valued at approximately $10,620,746.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian Michael Brown also recently made the following trade(s):

• On Friday, March 1st, Brian Michael Brown sold 20,000 shares of AvePoint stock. The stock was sold at an average price of $8.11, for a total value of $162,200.00.

AvePoint Trading Up 2.4 %

AVPT traded up $0.19 during midday trading on Thursday, hitting $8.04. 392,008 shares of the company were exchanged, compared to its average volume of 811,355. The company’s 50 day simple moving average is $7.85 and its 200 day simple moving average is $7.92. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -66.41 and a beta of 0.84. AvePoint, Inc. has a 1-year low of $4.36 and a 1-year high of $8.61.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The company had revenue of $74.60 million for the quarter, compared to analyst estimates of $71.57 million. During the same period in the prior year, the business posted ($0.07) earnings per share. AvePoint’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that AvePoint, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On AvePoint

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in AvePoint by 274.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company’s stock worth $12,334,000 after buying an additional 1,345,267 shares during the last quarter. Trexquant Investment LP purchased a new position in AvePoint in the 3rd quarter worth approximately $402,000. Herald Investment Management Ltd lifted its stake in AvePoint by 20.4% in the 3rd quarter. Herald Investment Management Ltd now owns 425,000 shares of the company’s stock worth $2,848,000 after purchasing an additional 71,993 shares in the last quarter. Jump Financial LLC purchased a new position in AvePoint in the 3rd quarter worth approximately $645,000. Finally, Calamos Advisors LLC purchased a new position in AvePoint in the 4th quarter worth approximately $1,260,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVPT shares. Cantor Fitzgerald raised their target price on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Citigroup increased their price target on AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Evercore ISI increased their price target on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st.

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.