Zhijian Lu Sells 10,000 Shares of AvePoint, Inc. (NASDAQ:AVPT) Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.90, for a total transaction of $119,000.00. Following the sale, the insider now owns 18,380,673 shares in the company, valued at approximately $218,730,008.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, September 20th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $11.94, for a total transaction of $119,400.00.
• 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 shares were 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 stock was 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 stock was sold at an average price of $10.77, for a total transaction of $107,700.00.

AvePoint Trading Down 2.8 %

AVPT stock traded down $0.34 during trading on Monday, hitting $11.60. 1,382,716 shares of the stock traded hands, compared to its average volume of 1,033,360. AvePoint, Inc. has a one year low of $6.41 and a one year high of $12.09. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -149.25 and a beta of 0.89. The company has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $9.51.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Northland Securities raised their price target on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald raised 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.

Hedge Funds Weigh In On AvePoint

A number of institutional investors have recently modified their holdings of AVPT. Driehaus Capital Management LLC bought a new position in shares of AvePoint in the second quarter worth about $17,305,000. Vanguard Group Inc. raised its stake in shares of AvePoint by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after buying an additional 532,371 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of AvePoint by 2,948.0% during the second quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock worth $5,735,000 after buying an additional 532,294 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of AvePoint by 198.2% during the second quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock worth $5,415,000 after buying an additional 345,370 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of AvePoint during the second quarter worth approximately $2,881,000. 44.49% of the stock is owned by institutional investors.

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.