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

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $12.10, for a total transaction of $121,000.00. Following the completion of the sale, the insider now owns 18,320,673 shares in the company, valued at $221,680,143.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 18th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $12.24, for a total value of $122,400.00.
• On Wednesday, October 16th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $12.24, for a total value of $122,400.00.
• On Monday, October 14th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $12.37, for a total value of $123,700.00.
• On Monday, September 23rd, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $11.90, for a total transaction of $119,000.00.
• On Friday, September 20th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was 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 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 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 value of $108,900.00.

AvePoint Trading Down 0.7 %

Shares of AVPT opened at $12.06 on Tuesday. AvePoint, Inc. has a twelve month low of $6.96 and a twelve month high of $12.66. The firm has a market capitalization of $2.23 billion, a P/E ratio of -150.75 and a beta of 0.89. The stock’s fifty day simple moving average is $11.62 and its 200 day simple moving average is $10.13.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The firm had revenue of $77.96 million during 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%. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. Sell-side analysts predict that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC increased its position in shares of AvePoint by 12.5% in the first quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock worth $268,000 after acquiring an additional 3,749 shares in the last quarter. Creative Planning lifted its holdings in shares of AvePoint by 19.1% during the 3rd quarter. Creative Planning now owns 29,345 shares of the company’s stock valued at $345,000 after acquiring an additional 4,698 shares in the last quarter. SG Americas Securities LLC boosted its position in AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after purchasing an additional 5,125 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in AvePoint by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company’s stock valued at $337,000 after purchasing an additional 5,316 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in AvePoint by 7.5% in the second quarter. Principal Financial Group Inc. now owns 86,724 shares of the company’s stock valued at $904,000 after purchasing an additional 6,027 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Analysts Set New Price Targets

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