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 firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.66, for a total transaction of $156,600.00. Following the sale, the insider now directly owns 18,290,673 shares in the company, valued at approximately $286,431,939.18. The trade was a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Thursday, November 14th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $15.77, for a total transaction of $157,700.00.
• On Monday, October 21st, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $12.10, for a total value of $121,000.00.
• On Friday, October 18th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $12.24, for a total value of $122,400.00.
• On Wednesday, October 16th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $12.24, for a total transaction of $122,400.00.
• On Monday, October 14th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $12.37, for a total transaction of $123,700.00.
• 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 transaction of $119,000.00.
• 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 transaction 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 value 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 value of $108,000.00.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $16.57 on Wednesday. The firm’s fifty day moving average is $12.66 and its two-hundred day moving average is $10.97. AvePoint, Inc. has a 52-week low of $7.08 and a 52-week high of $16.62. The company has a market cap of $3.09 billion, a P/E ratio of -331.33 and a beta of 0.88.

Hedge Funds Weigh In On AvePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in AvePoint in the 3rd quarter worth approximately $29,000. Canada Pension Plan Investment Board bought a new stake in AvePoint in the second quarter worth $83,000. Balboa Wealth Partners purchased a new stake in AvePoint during the third quarter valued at $125,000. Algert Global LLC bought a new position in AvePoint during the second quarter valued at $116,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of AvePoint during the 3rd quarter valued at about $171,000. 44.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVPT. Northland Securities increased their target price on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald increased their price objective on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group increased their price target on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

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.