Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells $119,400.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.94, for a total transaction of $119,400.00. Following the transaction, the insider now directly owns 18,390,673 shares in the company, valued at $219,584,635.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 shares were sold at an average price of $11.90, for a total transaction 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 transaction of $117,300.00.
• On Monday, September 16th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was 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 stock was 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 stock was 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 Stock Up 0.3 %

AVPT opened at $11.77 on Thursday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -147.13 and a beta of 0.89. The firm has a 50-day moving average price of $11.07 and a 200-day moving average price of $9.58. AvePoint, Inc. has a twelve month low of $6.41 and a twelve month high of $12.09.

AvePoint (NASDAQ:AVPT) last posted its earnings results 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 during the quarter, compared to analysts’ expectations 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 for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, sell-side analysts expect that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AvePoint

Several hedge funds have recently bought and sold shares of AVPT. Swiss National Bank grew its stake in AvePoint by 5.9% during the fourth quarter. Swiss National Bank now owns 219,200 shares of the company’s stock valued at $1,800,000 after acquiring an additional 12,300 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in AvePoint during the fourth quarter valued at approximately $158,000. Aigen Investment Management LP grew its stake in AvePoint by 197.2% during 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 in the last quarter. CenterBook Partners LP purchased a new position in AvePoint during the fourth quarter valued at approximately $1,097,000. Finally, Vanguard Group Inc. grew its stake in AvePoint by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock worth $119,192,000 after buying an additional 89,564 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AVPT shares. Northland Securities lifted their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. 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.

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.