AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells $119,400.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.94, for a total transaction of $119,400.00. Following the completion of the sale, the insider now owns 18,390,673 shares in the company, valued at $219,584,635.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 23rd, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $11.90, for a total transaction of $119,000.00.
• 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 transaction of $117,300.00.
• On Monday, September 16th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $11.91, for a total transaction of $119,100.00.
• On Monday, August 26th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $10.80, for a total transaction of $108,000.00.
• On Friday, August 23rd, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $10.83, for a total transaction 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 Stock Performance

Shares of AVPT stock traded down $0.34 during trading hours on Monday, hitting $11.60. 1,382,716 shares of the company were exchanged, compared to its average volume of 1,033,360. The firm has a market cap of $2.15 billion, a P/E ratio of -149.25 and a beta of 0.89. AvePoint, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $12.09. The company has a 50 day simple moving average of $11.01 and a two-hundred day simple moving average of $9.51.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). The company had revenue of $77.96 million for the quarter, compared to the consensus estimate of $75.17 million. AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. AvePoint’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, sell-side analysts expect that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On AvePoint

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of AvePoint by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock worth $119,192,000 after purchasing an additional 89,564 shares during the last quarter. Acadian Asset Management LLC purchased a new position in AvePoint during the second quarter valued at $2,250,000. Principal Financial Group Inc. lifted its position in AvePoint by 370.3% during the first quarter. Principal Financial Group Inc. now owns 80,697 shares of the company’s stock valued at $639,000 after buying an additional 63,538 shares during the period. CenterBook Partners LP purchased a new position in AvePoint during the fourth quarter valued at $1,097,000. Finally, Aigen Investment Management LP increased its holdings in shares of AvePoint by 197.2% during the fourth quarter. Aigen Investment Management LP now owns 29,971 shares of the company’s stock valued at $246,000 after acquiring an additional 19,886 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Northland Securities lifted their price target 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. Cantor Fitzgerald upped their price target on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report 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.