AvePoint, Inc. (NASDAQ:AVPT) Chief Financial Officer, Caci James, has recently sold a total of 40,000 shares of the company stock, according to the latest filings. The transactions, which took place on May 20, 2024, resulted in a total sale value of over $361,600. The shares were sold at prices ranging from $8.96 to $9.12 per share.
The sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of material non-public information. This plan had been adopted by Caci James on December 8, 2023.
Following the transactions, the SEC filing indicates that the CFO still holds a substantial number of shares in AvePoint. This includes both common stock and restricted stock units (RSUs) under the company's 2021 Equity Incentive Plan. The RSUs represent a contingent right to receive shares of AvePoint's common stock upon vesting. Including both the RSUs and non-RSU common stock, James's remaining stake in the company amounts to 665,097 shares.
AvePoint, headquartered in Jersey City, New Jersey, specializes in prepackaged software services. The company, which was formerly known as Apex Technology Acquisition Corp, is incorporated in Delaware and ended its fiscal year on December 31.
The recent transactions by the CFO are part of the routine disclosure of insider trading activity, which is publicly reported to the Securities and Exchange Commission. Investors often monitor such sales as they may provide insights into executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
AvePoint, Inc. (NASDAQ:AVPT) has been in the spotlight with its CFO's recent stock sale, and investors are keenly observing the company's financial health and stock performance. To provide further context, let's delve into some key metrics and insights from InvestingPro.
Despite the insider sale, AvePoint shows promising signs with a market capitalization of $1.74 billion and robust revenue growth in the last twelve months as of Q1 2024, marked at 18.69%. The company's gross profit margin stands impressively at 72.1%, reflecting its ability to retain a significant portion of its revenue after the cost of goods sold has been accounted for.
InvestingPro Tips highlight that AvePoint holds more cash than debt on its balance sheet and is expected to see net income growth this year. These factors suggest a stable financial position and potential for profitability, which could reassure investors about the company's future. Additionally, the stock has experienced significant returns, with a 64.51% increase over the last year and a notable 22.37% rise over the last month.
While AvePoint does not pay a dividend, which might be a consideration for income-focused investors, the company's stock is trading near its 52-week high, at 98.02% of this peak value. This could indicate investor confidence in the stock's potential or, as per another InvestingPro Tip, suggest that the stock is in overbought territory.
For those looking to delve deeper into AvePoint's performance and prospects, InvestingPro offers additional insights. There are more tips available, such as earnings revisions by analysts and the company's liquidity position, which can provide a more nuanced understanding of AvePoint's financial health. To explore these insights further, consider subscribing to InvestingPro using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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