AvePoint Executive Sells Shares Worth Over $355,000

In recent trading days, Lu Zhijian, a major shareholder of AvePoint, Inc. (NASDAQ:AVPT), engaged in a series of stock sales. These transactions took place on September 16, 17, and 18, during which a total of 30,000 shares of common stock were sold, generating proceeds exceeding $355,000 for Zhijian.

The shares were sold at prices between $11.73 and $11.91 per share. On the first day, 10,000 shares were sold at a price of $11.91 each. The following day, another 10,000 shares were sold at $11.87, and the final 10,000 shares were sold at $11.73 on the last day of the transaction.

According to the filing details, these sales were conducted as part of a Rule 10b5-1 trading plan that Lu Zhijian established on May 19, 2024. This plan enables company insiders to schedule stock sales while ensuring they do not have access to material non-public information, thereby providing a safeguard against insider trading allegations.

Post these transactions, it was reported that Zhijian indirectly holds 18,410,673 shares of AvePoint, Inc. through various trusts and limited liability companies, although he has disclaimed beneficial ownership of those shares, except for his financial interest.

The formal completion of the sales was confirmed with the signing of the transaction documents by attorney-in-fact, Brian Michael Brown, on September 18, 2024.

In other news, AvePoint recently reported a robust performance for the second quarter of 2024, surpassing its financial guidance. The company achieved total revenues of $78 million, reflecting a 20% increase compared to the previous year, with Software as a Service (SaaS) revenue growing by an impressive 40%. The company’s Confidence Platform continues to gain traction among customers, contributing to a record 87% recurring revenue mix. AvePoint’s annual recurring revenue (ARR) reached $290.1 million, indicating a 23% year-over-year increase, while the net retention rate stood at 110%.

The company also saw a notable improvement in operating income, with an operating margin of 11.2%. AvePoint has raised its full-year guidance for total ARR, total revenues, and non-GAAP operating income. For the upcoming third quarter, the company anticipates total revenues between $82 million and $84 million, along with non-GAAP operating income expected to be between $11 million and $12 million.

In terms of customer acquisitions, AvePoint secured contracts with a Fortune 20 global financial services firm and a Fortune 500 U.S.-based institution. However, some revenue streams, such as term licenses and support and maintenance, experienced a year-over-year decline.

Amidst the stock sales by significant shareholder Lu Zhijian, AvePoint continues to showcase several positive financial metrics and expert analyses that may interest both current and potential investors. Notably, AvePoint’s balance sheet has more cash than debt, indicating a strong financial position. Analysts have also revised their earnings forecasts upward, suggesting a positive outlook for the company.

As of the second quarter of 2024, AvePoint’s market capitalization stands at approximately $2.19 billion, reflecting its considerable presence in the prepackaged software services sector. The company’s revenue has grown by 19.57% over the last twelve months, highlighting healthy top-line performance. Furthermore, AvePoint boasts a gross profit margin of 73.6%, demonstrating solid profitability.

Investors may also find interest in the company’s stock performance. Over the last six months, AvePoint has seen a substantial price increase, with a total return of 54.23%, and it is currently trading close to its 52-week high. It is important to note that AvePoint does not offer a dividend, which might influence the investment decisions of income-focused investors.

For those seeking a deeper understanding of AvePoint’s financial performance and market position, further expert tips and analyses are available. This information provides valuable insights into the company’s prospects and operational strength.

This article was created with AI assistance and subsequently reviewed by an editor.