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 the stock in a transaction 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 completion of the sale, the insider now owns 18,430,673 shares in the company, valued at $219,509,315.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 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 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, 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 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 stock was sold at an average price of $10.77, for a total transaction of $107,700.00.

AvePoint Trading Up 2.7 %

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

AvePoint (NASDAQ:AVPT) last announced 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). 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 during the quarter, compared to analysts’ expectations of $75.17 million. During the same period last year, the firm earned ($0.07) earnings per share. AvePoint’s revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lifted their price objective 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. Northland Securities lifted their price target on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th.

Institutional Trading of AvePoint

Several institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC increased its position in AvePoint by 12.5% during the first quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock worth $268,000 after buying an additional 3,749 shares during the period. SG Americas Securities LLC grew its position in shares of AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after acquiring an additional 5,125 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 5,316 shares during the period. Principal Financial Group Inc. increased its holdings in shares of AvePoint by 7.5% in the 2nd quarter. Principal Financial Group Inc. now owns 86,724 shares of the company’s stock valued at $904,000 after acquiring an additional 6,027 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in AvePoint in the 2nd quarter valued at $83,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.