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

Franklin Resources Inc. grew its holdings in AvePoint, Inc. (NASDAQ:AVPT) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,200,589 shares of the company’s stock after purchasing an additional 27,191 shares during the quarter. Franklin Resources Inc.’s holdings in AvePoint were worth $14,815,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky acquired a new position in shares of AvePoint during the third quarter worth approximately $1,094,000. Ashford Capital Management Inc. lifted its holdings in AvePoint by 10.0% during the 3rd quarter. Ashford Capital Management Inc. now owns 1,091,230 shares of the company’s stock worth $12,844,000 after buying an additional 99,505 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AvePoint by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company’s stock worth $33,309,000 after buying an additional 133,156 shares in the last quarter. Barclays PLC boosted its position in AvePoint by 358.5% in the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after buying an additional 161,354 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of AvePoint in the 3rd quarter valued at $171,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

Shares of AVPT stock opened at $17.89 on Friday. The firm’s 50 day moving average price is $15.59 and its two-hundred day moving average price is $12.45. AvePoint, Inc. has a 52-week low of $7.08 and a 52-week high of $19.16. The stock has a market cap of $3.34 billion, a PE ratio of -357.73 and a beta of 1.00.

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $12.37, for a total value of $123,700.00. Following the completion of the transaction, the insider now directly owns 18,370,673 shares of the company’s stock, valued at approximately $227,245,225.01. This represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Caci sold 20,215 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $346,080.80. Following the transaction, the chief financial officer now owns 591,890 shares of the company’s stock, 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. Insiders have sold a total of 100,215 shares of company stock valued at $1,440,081 in the last 90 days. 27.78% of the stock is owned by company insiders.

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.