A recent filing with the Securities and Exchange Commission has revealed that Brian Michael Brown, the Chief Legal Officer of AvePoint, Inc. (NASDAQ:AVPT), sold 20,000 shares of company stock. The transaction, which took place on April 1st, 2024, was executed at a price of $7.7447 per share, resulting in a total sale value of $154,894.
Brown's sale was conducted under a Rule 10b5-1 trading plan, which he had adopted on June 15, 2023. This type of plan allows company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information. The plan thereby enables insiders to trade their own stock in a predetermined manner that is compliant with the SEC rules.
Following the sale, Brown still holds a significant stake in AvePoint, which includes both direct ownership of common stock and vested and unvested restricted stock units (RSUs) under the company's 2021 Equity Incentive Plan. The exact number of shares owned by Brown after the transaction is 1,371,240, as noted in the filing. This total includes his non-RSU common stock and the aggregate of both vested and unvested RSUs, which are subject to vesting schedules previously reported.
AvePoint, Inc., headquartered in Jersey City, New Jersey, specializes in prepackaged software solutions and is known for its cloud-based collaboration and data management tools. The company's stock is publicly traded on the NASDAQ under the ticker symbol AVPT.
Investors often monitor insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. Brown's transaction follows the standard reporting process for insider sales and remains part of the public record for investor consideration.
InvestingPro Insights
As AvePoint, Inc. (NASDAQ:AVPT) navigates through the software solutions market, recent data from InvestingPro provides a snapshot of the company's financial health and market performance. AvePoint holds a market capitalization of $1.44 billion, which is a reflection of the company's size and market value. Despite a challenging Price/Earnings (P/E) Ratio of -65.71, analysts have identified positive trends, including a notable revenue growth of 17.32% in Q1 2023 compared to the previous quarter.
One of the key InvestingPro Tips for AvePoint highlights that the company holds more cash than debt on its balance sheet, suggesting a strong liquidity position which could be a reassuring sign for investors. Additionally, AvePoint has a high return over the last year, with a 1 Year Price Total Return of 84.54%, indicating that shareholders have seen substantial gains in their investment value over this period.
These financial metrics and strategic insights are part of a broader set of InvestingPro Tips available for AvePoint, which can be found at https://www.investing.com/pro/AVPT. For investors seeking a deeper dive into AvePoint's performance and potential, a total of 8 additional tips can be accessed through InvestingPro, with the use of coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date slated for May 9, 2024, and a fair value estimation of $10.50 by analysts, compared to the InvestingPro Fair Value of $6.37, investors and stakeholders will be closely watching AvePoint's performance in the coming months.
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