Insider Selling: AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells $108,000.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $10.80, for a total value of $108,000.00. Following the transaction, the insider now directly owns 18,410,673 shares of the company’s stock, valued at $198,835,268.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 23rd, Zhijian Lu sold 10,000 shares of AvePoint stock. The shares were 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 shares were 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 Stock Up 6.9 %

AVPT opened at $11.51 on Thursday. The stock’s fifty day moving average is $10.50 and its two-hundred day moving average is $9.04. The company has a market capitalization of $2.13 billion, a P/E ratio of -143.88 and a beta of 0.89. AvePoint, Inc. has a 52 week low of $6.41 and a 52 week high of $11.96.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on AVPT. Northland Securities upped their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald upped their price objective on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th.

Institutional Trading of AvePoint

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. boosted its position in shares of AvePoint by 27.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 61,600 shares of the company’s stock worth $642,000 after purchasing an additional 13,400 shares in the last quarter. Algert Global LLC acquired a new stake in shares of AvePoint in the 2nd quarter worth $116,000. Driehaus Capital Management LLC purchased a new position in AvePoint in the 2nd quarter worth $17,305,000. Susquehanna Fundamental Investments LLC purchased a new position in AvePoint in the 2nd quarter worth $548,000. Finally, Millennium Management LLC raised its stake in AvePoint by 33.7% in the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after acquiring an additional 161,759 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

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.