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

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.94, for a total value of $119,400.00. Following the completion of the sale, the insider now directly owns 18,390,673 shares in the company, valued at approximately $219,584,635.62. The sale was disclosed in a legal 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 shares 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 value 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 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 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 AvePoint stock traded down $0.34 during trading on Monday, reaching $11.60. The company had a trading volume of 1,382,716 shares, compared to its average volume of 1,033,360. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -149.25 and a beta of 0.89. The firm’s fifty day moving average is $11.01 and its 200-day moving average is $9.51. AvePoint, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $12.09.

AvePoint (NASDAQ:AVPT) last released 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 business had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. AvePoint’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, research analysts anticipate that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new stake in AvePoint during the second quarter worth approximately $17,305,000. Vanguard Group Inc. increased its stake in shares of AvePoint by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after purchasing an additional 532,371 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of AvePoint by 2,948.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock worth $5,735,000 after purchasing an additional 532,294 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of AvePoint by 198.2% during the 2nd quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock worth $5,415,000 after purchasing an additional 345,370 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of AvePoint during the 2nd quarter worth $2,881,000. 44.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVPT has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their target price on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Northland Securities raised their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note 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.