AvePoint, Inc. (NASDAQ:AVPT) Major Shareholder Sells $99,999,600.00 in Stock

AvePoint, Inc. (NASDAQ:AVPT) major shareholder Sixth Street Partners Manageme sold 16,666,600 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $6.00, for a total value of $99,999,600.00. Following the transaction, the insider now owns 1,885,806 shares in the company, valued at $11,314,836. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AvePoint Price Performance

NASDAQ AVPT traded up $0.04 during midday trading on Monday, hitting $6.77. 100,438 shares of the company traded hands, compared to its average volume of 647,086. The company has a market cap of $1.26 billion, a PE ratio of -29.26 and a beta of 0.89. The company’s 50-day simple moving average is $6.29 and its 200-day simple moving average is $5.50. AvePoint, Inc. has a 52 week low of $3.40 and a 52 week high of $7.13.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Wednesday, August 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.08). The company had revenue of $64.90 million for the quarter, compared to the consensus estimate of $61.78 million. AvePoint had a negative net margin of 16.71% and a negative return on equity of 18.50%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted ($0.05) EPS. On average, research analysts predict that AvePoint, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on AVPT. Cantor Fitzgerald raised their price objective on AvePoint from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Citigroup raised their price objective on AvePoint from $5.80 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th. Finally, TheStreet upgraded AvePoint from a “d+” rating to a “c-” rating in a report on Wednesday, May 31st.

Institutional Trading of AvePoint

A number of institutional investors have recently made changes to their positions in AVPT. Quantbot Technologies LP boosted its position in shares of AvePoint by 136.8% in the 1st quarter. Quantbot Technologies LP now owns 6,867 shares of the company’s stock worth $36,000 after purchasing an additional 3,967 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in AvePoint by 148.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 8,937 shares of the company’s stock worth $37,000 after acquiring an additional 5,334 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in AvePoint in the 1st quarter worth $48,000. Royal Bank of Canada raised its stake in AvePoint by 97,940.0% in the 1st quarter. Royal Bank of Canada now owns 9,804 shares of the company’s stock worth $52,000 after acquiring an additional 9,794 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in AvePoint in the 2nd quarter worth $52,000. Institutional investors and hedge funds own 42.76% of the company’s stock.

AvePoint Company Profile

AvePoint, Inc provides cloud-native software platform solutions. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others.