According to recent filings with the Securities and Exchange Commission, AvePoint, Inc.’s CFO. (NASDAQ:AVPT) James Kachi recently sold a significant amount of stock in the company. The transactions, which took place on March 20 and 21, involved the sale of 10,000 shares for a total value of more than $80,000.
The sales occurred at prices ranging from $8.00 to $8.0008 per share. Specifically, on March 20, Kachi sold 3,061 shares at $8.00 each, and the next day, he sold 6,939 shares for a slight price increase of $8.0008 per share. These sales were made pursuant to a pre-agreed 10b5-1 trading plan, which allows company insiders to set a predetermined schedule for buying and selling shares to avoid charges of insider trading.
Additionally, a separate transaction on March 21 involved the sale of 2,824 shares at $8.03 each. This transaction was classified differently and involved the payment of an exercise price or tax liability by delivery or withholding of securities in connection with the receipt, exercise or transfer of securities issued pursuant to Rule 16b-3. The total value of this transaction was $22,676.
Following these transactions, SEC filings indicated that Chief Financial Officer James Caci continued to own a significant number of AvePoint shares, including both non-RSU common stock and owned and non-RSU shares, totaling 707,649 shares as announced sales
Investors often track insider buying and selling as it can provide insight into management’s views on a company’s future prospects. While the sales could indicate many reasons beyond a lack of trust in the company, such as personal financial management or diversification, the market is still watching them closely for any potential signals.
InvestingAbout Insights
Following recent insider transactions at AvePoint, Inc. (NASDAQ:AVPT) investors may find it helpful to consider a few key metrics and insights from InvestingPro. The company’s market capitalization is approximately US$1.45 billion, which reflects its current market value. Notably, AvePoint’s Price to Earnings (P/E) ratio is currently negative at -66.39, indicating that the company is not profitable as of the trailing twelve months ending in the fourth quarter of 2023. Despite this, the company’s revenue showed a healthy growth of 16.99%. over the same period, which suggests business expansion.
Two tips from InvestingPro that may be particularly relevant are that AvePoint holds more cash than debt on its balance sheet and that net income is expected to grow this year. These ideas can give investors a sense of financial stability and the potential for future profitability, which can counterbalance insider selling activity. In addition, analysts predict that the company will be profitable this year, which could be a positive sign for potential investors.
For those who want more in-depth analysis, InvestingPro offers some additional tips for AvePoint that can be accessed through their platform. Using coupon code PRONEWS24investors can receive an additional 10% discount on annual or biennial Pro and Pro+ subscriptions while gaining access to a total of 7 InvestingPro tips for AvePoint, including information on liquidity, company profitability and analyst forecasts.
As the next earnings date approaches May 9, 2024, this information and data can help investors make more informed decisions in light of the CFO’s recent stock sales and the company’s overall financial health.
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