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

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.90, for a total value of $119,000.00. Following the completion of the transaction, the insider now directly owns 18,380,673 shares in the company, valued at $218,730,008.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares 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 value of $119,400.00.
• 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 value 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 shares were 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 value 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 value of $107,700.00.

AvePoint Stock Up 1.2 %

Shares of AvePoint stock opened at $11.74 on Wednesday. The business has a 50-day moving average price of $11.05 and a 200 day moving average price of $9.57. 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 cap of $2.18 billion, a P/E ratio of -146.75 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last issued its quarterly 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). The firm had revenue of $77.96 million during 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. As a group, equities research analysts anticipate that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AVPT shares. 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 shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th.

Institutional Trading of AvePoint

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank boosted its holdings in shares of AvePoint by 5.9% in the 4th quarter. Swiss National Bank now owns 219,200 shares of the company’s stock valued at $1,800,000 after buying an additional 12,300 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in AvePoint in the fourth quarter worth about $158,000. Aigen Investment Management LP boosted its stake in AvePoint by 197.2% in 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 during the period. CenterBook Partners LP acquired a new position in AvePoint in the fourth quarter valued at approximately $1,097,000. Finally, Vanguard Group Inc. grew its holdings in shares of AvePoint by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock valued at $119,192,000 after purchasing an additional 89,564 shares during the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

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.