AvePoint, Inc. (NASDAQ:AVPT) Insider Brian Michael Brown Sells 35,000 Shares

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.40, for a total transaction of $539,000.00. Following the sale, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AvePoint Trading Down 1.4 %

AVPT stock traded down $0.21 during midday trading on Tuesday, reaching $15.23. 1,197,733 shares of the company’s stock traded hands, compared to its average volume of 1,146,386. AvePoint, Inc. has a 52-week low of $7.52 and a 52-week high of $19.90. The stock has a market cap of $3.07 billion, a P/E ratio of -304.54 and a beta of 1.11. The stock’s 50-day moving average is $17.09 and its 200 day moving average is $15.57.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVPT shares. William Blair restated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup reduced their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. 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 stock presently has an average rating of “Moderate Buy” and an average target price of $15.75.

Institutional Investors Weigh In On AvePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its stake in shares of AvePoint by 29.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after buying an additional 1,010 shares during the period. Summit Investment Advisors Inc. raised its stake in AvePoint by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company’s stock worth $222,000 after acquiring an additional 1,042 shares during the period. Moran Wealth Management LLC lifted its holdings in AvePoint by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock valued at $818,000 after purchasing an additional 1,083 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of AvePoint in the fourth quarter worth approximately $25,000. Finally, Blair William & Co. IL increased its stake in shares of AvePoint by 24.7% in the fourth quarter. Blair William & Co. IL now owns 7,563 shares of the company’s stock worth $125,000 after purchasing an additional 1,500 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

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.