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 AvePoint stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total transaction of $539,000.00. Following the transaction, the insider now owns 1,347,145 shares of the company’s stock, 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 SEC, which can be accessed through this link.

AvePoint Price Performance

Shares of NASDAQ AVPT opened at $15.23 on Wednesday. The company has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $15.60. The company has a market cap of $3.07 billion, a PE ratio of -304.54 and a beta of 1.11. AvePoint, Inc. has a 12 month low of $7.52 and a 12 month high of $19.90.

Institutional Trading of AvePoint

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of AvePoint by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock worth $252,276,000 after purchasing an additional 150,885 shares during the period. Wellington Management Group LLP lifted its position in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock worth $106,163,000 after buying an additional 2,332,813 shares during the period. Geode Capital Management LLC lifted its position in AvePoint by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock worth $47,067,000 after buying an additional 20,720 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in AvePoint by 566.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after buying an additional 2,276,258 shares during the last quarter. Finally, Parsifal Capital Management LP purchased a new stake in AvePoint in the 4th quarter valued at about $36,419,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVPT. William Blair reissued an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup dropped their price target 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.75.

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.