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 dated Friday, August 23rd. The stock was sold at an average price of $10.83, for a total transaction of $108,300.00. Following the transaction, the insider now directly owns 18,420,673 shares in the company, valued at approximately $199,495,888.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Zhijian Lu also recently made the following trade(s):

• 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 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 value of $108,900.00.
• On Monday, August 19th, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were sold at an average price of $10.77, for a total value of $107,700.00.

AvePoint Price Performance

NASDAQ:AVPT opened at $10.82 on Tuesday. The firm has a market capitalization of $2.00 billion, a P/E ratio of -135.25 and a beta of 0.89. The business has a 50 day simple moving average of $10.44 and a 200 day simple moving average of $9.01. AvePoint, Inc. has a 12-month low of $6.41 and a 12-month high of $11.07.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The firm had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. During the same period last year, the firm posted ($0.07) EPS. The business’s revenue was up 20.2% compared to the same quarter last year. Research analysts anticipate that AvePoint, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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 report on Friday, August 9th. Cantor Fitzgerald boosted their price objective 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of AvePoint by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after buying an additional 532,371 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after acquiring an additional 227,324 shares during the period. Driehaus Capital Management LLC bought a new position in shares of AvePoint in the second quarter worth $17,305,000. Federated Hermes Inc. increased its holdings in shares of AvePoint by 3.6% during the second quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after purchasing an additional 32,821 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of AvePoint by 16.4% during the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock valued at $8,981,000 after purchasing an additional 121,200 shares in the last quarter. Institutional investors own 44.49% of the company’s stock.

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.