Franklin Resources Inc. Reduces Stake in AvePoint, Inc. (NASDAQ:AVPT)

Franklin Resources Inc. lessened its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,083,074 shares of the company’s stock after selling 117,515 shares during the quarter. Franklin Resources Inc.’s holdings in AvePoint were worth $17,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of AvePoint during the 4th quarter worth approximately $25,000. National Bank of Canada FI acquired a new stake in shares of AvePoint during the 3rd quarter valued at about $29,000. Heck Capital Advisors LLC purchased a new position in shares of AvePoint in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new position in AvePoint in the 4th quarter worth about $45,000. Finally, Principal Securities Inc. boosted its position in AvePoint by 12,961.9% during the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock worth $45,000 after purchasing an additional 2,722 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Price Performance

Shares of AvePoint stock opened at $13.54 on Tuesday. The stock has a market capitalization of $2.73 billion, a P/E ratio of -270.75 and a beta of 1.20. The business has a 50 day simple moving average of $16.48 and a two-hundred day simple moving average of $15.77. AvePoint, Inc. has a 12 month low of $7.62 and a 12 month high of $19.90.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.40, for a total transaction of $539,000.00. Following the transaction, the insider now directly owns 1,347,145 shares in the company, valued at approximately $20,746,033. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 26.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup reduced their target price on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. William Blair restated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.75.

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.