Zhijian Lu Sells 10,000 Shares of AvePoint, Inc. (NASDAQ:AVPT) Stock

Posted by Marion Hillson on Sep 25th, 2024

AvePoint, Inc. (NASDAQ:AVPT – Get Free Report) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.94, for a total value of $119,400.00. Following the transaction, the insider now directly owns 18,390,673 shares in the company, valued at approximately $219,584,635.62. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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, 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 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.
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 transaction of $108,000.00.
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 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 Stock Performance

Shares of AVPT stock opened at $11.74 on Wednesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -146.75 and a beta of 0.89. The stock’s 50-day simple moving average is $11.05 and its 200-day simple moving average is $9.57. AvePoint, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $12.09.

AvePoint (NASDAQ:AVPT – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. The company had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. During the same quarter 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. As a group, equities analysts forecast that AvePoint, Inc. will post -0.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVPT. Northland Securities raised their price target on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald raised their target price on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 9th.

View Our Latest Analysis on AVPT

Hedge Funds Weigh In On AvePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in AvePoint by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock valued at $119,192,000 after acquiring an additional 89,564 shares during the period. Acadian Asset Management LLC purchased a new position in shares of AvePoint during the second quarter worth $2,250,000. Principal Financial Group Inc. lifted its position in AvePoint by 370.3% during the first quarter. Principal Financial Group Inc. now owns 80,697 shares of the company’s stock valued at $639,000 after purchasing an additional 63,538 shares during the period. CenterBook Partners LP purchased a new stake in AvePoint in the fourth quarter valued at $1,097,000. Finally, Aigen Investment Management LP grew its position in AvePoint by 197.2% during the 4th quarter. Aigen Investment Management LP now owns 29,971 shares of the company’s stock worth $246,000 after purchasing an additional 19,886 shares during the period. Hedge funds and other institutional investors own 44.49% of the company’s stock.

About AvePoint

(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.