AvePoint (NASDAQ:AVPT) Stock: Insider Brian Michael Brown Sells 72,606 Shares

AvePoint, Inc. (NASDAQ:AVPT) insider Brian Brown sold 72,606 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total transaction of $1,107,967.56. Following the completion of the transaction, the insider owned 259,604 shares of the company’s stock, valued at $3,961,557.04. This trade represents a 21.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 16th, Brian Brown sold 3,500 shares of AvePoint stock. The shares were sold at an average price of $15.20, for a total transaction of $53,200.00.
• On Tuesday, October 6th, Brian Brown sold 28,894 shares of AvePoint stock. The stock was sold at an average price of $15.15, for a total value of $437,744.10.
• On Wednesday, September 30th, Brian Brown sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $14.11, for a total value of $141,100.00.
• On Wednesday, September 23rd, Brian Brown sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $13.07, for a total value of $130,700.00.
• 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 shares were sold at an average price of $13.06, for a total value 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 Up 3.2%

Shares of AvePoint stock opened at $15.72 on Thursday. AvePoint, Inc. has a 52 week low of $8.84 and a 52 week high of $15.82. The stock has a market cap of $3.33 billion, a PE ratio of 49.13 and a beta of 1.17. The company’s 50-day moving average price is $13.75 and its two-hundred day moving average price is $12.03.

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

Institutional Investors Weigh In On AvePoint

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in AvePoint during the 2nd quarter valued at $8,848,000. Quantinno Capital Management LP boosted its position in shares of AvePoint by 307.0% in the first quarter. Quantinno Capital Management LP now owns 109,317 shares of the company’s stock worth $1,040,000 after buying an additional 82,457 shares during the period. Wellington Management Group LLP boosted its position in shares of AvePoint by 106.7% in the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock worth $31,125,000 after buying an additional 1,433,299 shares during the period. Scholtz & Company LLC acquired a new stake in shares of AvePoint in the second quarter worth $1,975,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of AvePoint by 83.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 232,250 shares of the company’s stock valued at $2,209,000 after buying an additional 105,471 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of AvePoint in a report on Tuesday, September 22nd. DA Davidson reissued a “buy” rating and set a $18.00 price objective on shares of AvePoint in a research note on Monday, July 6th. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. TD Cowen lifted their target price on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Evercore restated an “outperform” rating and issued a $16.00 target price on shares of AvePoint in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.