AvePoint, Inc. (NASDAQ:AVPT) Chief Financial Officer Caci James recently sold a portion of her holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, James sold 20,215 shares of AvePoint's common stock on November 20, 2024, at a price of $17.12 per share. The transaction totaled approximately $346,080.
Following this sale, James retains ownership of 591,890 shares, which includes both non-restricted common stock and restricted stock units (RSUs) that are subject to vesting schedules. The sale was executed under a Rule 10b5-1 trading plan, which was adopted by James on December 8, 2023.
In other recent news, AvePoint Inc. has outperformed expectations with its commendable Q3 results. The data management solutions firm reported a 22% year-over-year increase in total revenues, which reached $88.8 million. A significant factor in this success was the SaaS revenue growth of 45% year-over-year, constituting 69% of total revenues. This has been attributed to AvePoint's Confidence Platform, a crucial tool for data security and governance.
The company's Annual Recurring Revenue (ARR) also saw a noteworthy rise, reaching $308.9 million, marking a 23% increase from the previous year. AvePoint has raised its full-year revenue and ARR guidance, reflecting growth rates of 21% and 23%, respectively. The company's leadership, CEO Dr. TJ Jiang and CFO Jim Caci, have expressed their aim for GAAP profitability by 2025.
These recent developments indicate a positive trajectory for AvePoint. The company has added a record 35 customers with ARR over $100,000 in one quarter, and experienced consistent growth across all regions: North America, EMEA, and APAC. However, it is important to note that these are analyst projections and actual results may vary.
InvestingPro Insights
AvePoint, Inc. (NASDAQ:AVPT) has been experiencing significant momentum in the market, as evidenced by recent InvestingPro data. The company's stock has shown remarkable performance, with a 51.87% price return over the past month and an impressive 120.22% return over the last year. This upward trajectory aligns with the recent insider sale by CFO Caci James, potentially indicating a perception of the stock being near its peak value.
InvestingPro Tips highlight that AvePoint holds more cash than debt on its balance sheet, suggesting a strong financial position. This liquidity strength is further supported by the fact that the company's liquid assets exceed its short-term obligations. These factors may contribute to investor confidence and the stock's recent performance.
Despite the positive stock performance, it's worth noting that AvePoint is trading at high valuation multiples across various metrics, including EBIT, EBITDA, and revenue. An InvestingPro Tip also indicates that the stock is trading near its 52-week high, which could explain the timing of the insider sale.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for AvePoint, providing a deeper understanding of the company's financial health and market position.
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