AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells $119,100.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 18,430,673 shares of the company’s stock, valued at $219,509,315.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Wednesday, September 18th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00.
• 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 value 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 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 Price Performance

AVPT stock opened at $11.98 on Friday. AvePoint, Inc. has a 12 month low of $6.41 and a 12 month high of $12.09. The firm has a market capitalization of $2.22 billion, a PE ratio of -149.75 and a beta of 0.89. The company’s 50 day simple moving average is $10.94 and its 200-day simple moving average is $9.43.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVPT. Northland Securities raised their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald raised their price target on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th.

Institutional Trading of AvePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVPT. Driehaus Capital Management LLC purchased a new position in AvePoint in the 2nd quarter valued at about $17,305,000. Vanguard Group Inc. grew its holdings 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 in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of AvePoint by 2,948.0% in the second quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock valued at $5,735,000 after buying an additional 532,294 shares during the last quarter. Squarepoint Ops LLC lifted 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 valued at $5,415,000 after buying an additional 345,370 shares during the period. Finally, Marshall Wace LLP acquired a new stake in AvePoint during the second quarter worth approximately $2,881,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Company Profile

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.