Franklin Resources Inc. Purchases 27,191 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Franklin Resources Inc. increased its position in shares of AvePoint, Inc. (NASDAQ:AVPT) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,200,589 shares of the company’s stock after buying an additional 27,191 shares during the period. Franklin Resources Inc. owned 0.64% of AvePoint worth $14,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. National Bank of Canada FI acquired a new position in AvePoint during the 3rd quarter worth $29,000. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint during the 2nd quarter worth about $83,000. Algert Global LLC acquired a new position in shares of AvePoint during the 2nd quarter worth about $116,000. Balboa Wealth Partners bought a new stake in AvePoint during the 3rd quarter valued at approximately $125,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in AvePoint in the 3rd quarter valued at approximately $171,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

AvePoint Stock Up 0.8 %

AvePoint stock opened at $17.89 on Friday. The business has a 50 day moving average price of $15.59 and a two-hundred day moving average price of $12.45. AvePoint, Inc. has a 12 month low of $7.08 and a 12 month high of $19.16. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -357.73 and a beta of 1.00.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, AvePoint has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

Insider Activity

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $12.37, for a total transaction of $123,700.00. Following the sale, the insider now directly owns 18,370,673 shares of the company’s stock, valued at approximately $227,245,225.01. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Caci sold 20,215 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,215 shares of company stock worth $1,440,081. Company insiders own 27.78% of the company’s stock.

AvePoint 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.