AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Zhijian Lu Sells 10,000 Shares

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $11.91, for a total value of $119,100.00. Following the completion of the transaction, the insider now directly owns 18,430,673 shares in the company, valued at approximately $219,509,315.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Zhijian Lu also recently made the following trade(s):

• On Wednesday, September 18th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $11.73, for a total value of $117,300.00.
• On Monday, August 26th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $10.80, for a total value of $108,000.00.
• On Friday, August 23rd, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $10.83, for a total value of $108,300.00.
• On Wednesday, August 21st, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $10.89, for a total transaction of $108,900.00.
• On Monday, August 19th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $10.77, for a total transaction of $107,700.00.

AvePoint Trading Down 1.0 %

Shares of AVPT traded down $0.12 during mid-day trading on Wednesday, hitting $11.66. 726,364 shares of the company’s stock were exchanged, compared to its average volume of 1,020,568. AvePoint, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $12.09. The firm has a market capitalization of $2.16 billion, a P/E ratio of -145.75 and a beta of 0.89. The business’s 50 day moving average is $10.91 and its two-hundred day moving average is $9.42.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $77.96 million for the quarter, compared to analysts’ expectations of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. On average, equities research analysts forecast that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AVPT. Canada Pension Plan Investment Board purchased a new position in AvePoint in the second quarter valued at about $83,000. Algert Global LLC acquired a new stake in AvePoint during the second quarter worth approximately $116,000. Bayesian Capital Management LP acquired a new stake in AvePoint during the first quarter worth approximately $130,000. nVerses Capital LLC acquired a new stake in AvePoint during the second quarter worth approximately $173,000. Finally, SG Americas Securities LLC boosted its position in AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after acquiring an additional 5,125 shares during the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVPT has been the subject of several research analyst reports. Cantor Fitzgerald upped their price objective on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Northland Securities upped their price objective on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th.

About AvePoint

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.