Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells $117,300.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total transaction of $117,300.00. Following the completion of the sale, the insider now directly owns 18,410,673 shares in the company, valued at approximately $215,957,194.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 16th, Zhijian Lu sold 10,000 shares of AvePoint stock. The stock was 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 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 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 Trading Down 0.3 %

Shares of NASDAQ:AVPT opened at $11.94 on Friday. AvePoint, Inc. has a 12 month low of $6.41 and a 12 month high of $12.09. The stock has a market cap of $2.21 billion, a P/E ratio of -149.25 and a beta of 0.89. The company has a 50 day moving average of $10.97 and a 200 day moving average of $9.45.

AvePoint (NASDAQ:AVPT) last released its quarterly 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). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The firm had revenue of $77.96 million during the quarter, compared to the consensus estimate of $75.17 million. During the same period in the previous year, the company posted ($0.07) EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that AvePoint, Inc. will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of AvePoint

Institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC increased its position in shares of AvePoint by 12.5% in the first quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock worth $268,000 after purchasing an additional 3,749 shares during the last quarter. SG Americas Securities LLC grew its stake in AvePoint by 44.2% in the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after buying an additional 5,125 shares in 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 worth $337,000 after buying an additional 5,316 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of AvePoint by 7.5% during the 2nd quarter. Principal Financial Group Inc. now owns 86,724 shares of the company’s stock valued at $904,000 after buying an additional 6,027 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of AvePoint during the 2nd quarter worth $83,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVPT. Northland Securities raised their price objective 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 raised their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th.

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.