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

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total value of $108,900.00. Following the transaction, the insider now directly owns 18,440,673 shares of the company’s stock, valued at $200,818,928.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% 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 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 0.6 %

AVPT opened at $10.96 on Thursday. The business has a fifty day simple moving average of $10.35 and a 200-day simple moving average of $8.94. The firm has a market cap of $2.03 billion, a PE ratio of -137.00 and a beta of 0.89. AvePoint, Inc. has a fifty-two week low of $6.11 and a fifty-two week high of $11.07.

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 analysts’ consensus estimates of $0.02 by ($0.09). The company had revenue of $77.96 million during the quarter, compared to analyst estimates of $75.17 million. AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.07) EPS. On average, equities research analysts anticipate that AvePoint, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AVPT has been the topic of a number of research analyst reports. Cantor Fitzgerald lifted their target price on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. 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 research note on Friday, August 9th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Strs Ohio grew its position in AvePoint by 3.9% during the 4th quarter. Strs Ohio now owns 88,400 shares of the company’s stock worth $725,000 after purchasing an additional 3,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of AvePoint by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock worth $236,000 after buying an additional 4,005 shares during the period. Federated Hermes Inc. boosted its position in shares of AvePoint by 2.2% in the fourth quarter. Federated Hermes Inc. now owns 878,765 shares of the company’s stock worth $7,215,000 after buying an additional 18,881 shares during the period. New York State Common Retirement Fund grew its holdings in shares of AvePoint by 11.8% during the fourth quarter. New York State Common Retirement Fund now owns 59,744 shares of the company’s stock valued at $490,000 after buying an additional 6,308 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in AvePoint during the fourth quarter valued at $47,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.