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 AvePoint stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.90, for a total value of $119,000.00. Following the transaction, the insider now owns 18,380,673 shares of the company’s stock, valued at approximately $218,730,008.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% 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 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 value 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.
• 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 Down 2.8 %

NASDAQ AVPT traded down $0.34 on Monday, reaching $11.60. The stock had a trading volume of 1,382,716 shares, compared to its average volume of 1,033,360. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -149.25 and a beta of 0.89. AvePoint, Inc. has a 12-month low of $6.41 and a 12-month high of $12.09. The stock has a fifty day moving average price of $11.01 and a two-hundred day moving average price of $9.51.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On AvePoint

A number of hedge funds and other institutional investors have recently modified their holdings of AVPT. Vanguard Group Inc. raised its holdings in AvePoint by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after acquiring an additional 532,371 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares during the period. Driehaus Capital Management LLC purchased a new stake in AvePoint during the 2nd quarter worth $17,305,000. Federated Hermes Inc. boosted its position in AvePoint by 3.6% during the 2nd quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock worth $9,739,000 after purchasing an additional 32,821 shares during the period. Finally, Renaissance Technologies LLC boosted its position in AvePoint by 16.4% during the 2nd quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock worth $8,981,000 after purchasing an additional 121,200 shares during the period. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.