Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells 10,000 Shares of Stock

Posted by Adam Dyson on Nov 24th, 2024

AvePoint, Inc. (NASDAQ:AVPT – Get Free Report) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $171,200.00. Following the sale, the insider now directly owns 18,270,673 shares in the company, valued at approximately $312,793,921.76. This represents a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major 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, November 18th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was sold at an average price of $15.66, for a total transaction of $156,600.00.
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 stock was sold at an average price of $12.10, for a total transaction of $121,000.00.
On Friday, October 18th, 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 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 shares were 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 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 shares were sold at an average price of $11.91, for a total transaction of $119,100.00.

AvePoint Price Performance

Shares of NASDAQ:AVPT opened at $18.57 on Friday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -371.33 and a beta of 0.88. The firm’s 50 day simple moving average is $13.04 and its 200 day simple moving average is $11.16. AvePoint, Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $18.75.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on AVPT

Institutional Trading of AvePoint

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in AvePoint by 33.7% during the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after buying an additional 161,759 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in AvePoint during the 3rd quarter worth approximately $1,404,000. Susquehanna Fundamental Investments LLC acquired a new stake in AvePoint during the 2nd quarter worth approximately $548,000. Lisanti Capital Growth LLC acquired a new stake in AvePoint during the 3rd quarter worth approximately $1,424,000. Finally, Sei Investments Co. acquired a new stake in AvePoint during the 2nd quarter worth approximately $1,503,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Company Profile

(Get Free Report)

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.