Franklin Resources Inc. reduced its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,083,074 shares of the company's stock after selling 117,515 shares during the period. Franklin Resources Inc. owned 0.58% of AvePoint worth $17,882,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AVPT. Vanguard Group Inc. raised its position in shares of AvePoint by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock valued at $252,276,000 after buying an additional 150,885 shares during the last quarter. Wellington Management Group LLP raised its holdings in AvePoint by 56.9% in the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock valued at $106,163,000 after acquiring an additional 2,332,813 shares during the last quarter. Geode Capital Management LLC raised its holdings in AvePoint by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,829,548 shares of the company's stock valued at $33,309,000 after acquiring an additional 133,156 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in AvePoint by 566.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after purchasing an additional 2,276,258 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AvePoint by 7.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,657,804 shares of the company's stock worth $27,370,000 after purchasing an additional 121,144 shares during the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.
AvePoint Trading Up 0.9 %
AVPT traded up $0.13 during trading hours on Friday, hitting $14.53. 690,799 shares of the company's stock were exchanged, compared to its average volume of 1,202,283. AvePoint, Inc. has a 12-month low of $7.62 and a 12-month high of $19.90. The firm has a 50 day moving average of $15.95 and a 200 day moving average of $15.81. The firm has a market cap of $2.93 billion, a P/E ratio of -290.54 and a beta of 1.20.
Insider Activity at AvePoint
In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the transaction, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.19% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on AVPT. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup cut 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.75.
View Our Latest Analysis on AvePoint
AvePoint Profile
(
Free Report)
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.
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