Franklin Resources Inc. reduced its position in AvePoint, Inc. (NASDAQ:AVPT – Get Rating) by 15.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,000,972 shares of the company’s stock after selling 354,687 shares during the period. Franklin Resources Inc. owned about 1.09% of AvePoint worth $8,224,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of AvePoint by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,944,553 shares of the company’s stock valued at $47,899,000 after buying an additional 438,951 shares during the period. BlackRock Inc. lifted its holdings in shares of AvePoint by 3.7% during the 3rd quarter. BlackRock Inc. now owns 7,670,576 shares of the company’s stock valued at $30,759,000 after acquiring an additional 276,306 shares in the last quarter. EVR Research LP lifted its holdings in shares of AvePoint by 16.6% during the 3rd quarter. EVR Research LP now owns 4,163,000 shares of the company’s stock valued at $16,694,000 after acquiring an additional 592,000 shares in the last quarter. State Street Corp lifted its holdings in shares of AvePoint by 8.6% during the 3rd quarter. State Street Corp now owns 2,327,535 shares of the company’s stock valued at $9,333,000 after acquiring an additional 184,152 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of AvePoint by 481.4% during the 2nd quarter. Northern Trust Corp now owns 1,091,852 shares of the company’s stock valued at $4,739,000 after acquiring an additional 904,054 shares in the last quarter. 41.35% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AVPT has been the topic of several recent research reports. Cantor Fitzgerald lifted their target price on shares of AvePoint from $7.00 to $8.00 in a report on Thursday, May 11th. The Goldman Sachs Group initiated coverage on shares of AvePoint in a report on Tuesday, February 14th. They set a “neutral” rating and a $5.50 target price on the stock. Finally, TheStreet upgraded shares of AvePoint from a “d+” rating to a “c-” rating in a report on Wednesday.
AvePoint Price Performance
AvePoint (NASDAQ:AVPT – Get Rating) last released its earnings results on Thursday, March 9th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $63.61 million during the quarter, compared to the consensus estimate of $63.99 million. AvePoint had a negative return on equity of 16.91% and a negative net margin of 16.21%. On average, sell-side analysts anticipate that AvePoint, Inc. will post -0.13 EPS for the current year.
AvePoint Profile
AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.
Further Reading
- Get a free copy of the StockNews.com research report on AvePoint (AVPT)
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