Barclays PLC increased its stake in Avid Technology, Inc. According to the company’s most recent 13F filing with the US Securities and Exchange Commission (SEC), third quarter (NASDAQ: AVID – Get Rating ) growth was 9,530.3%. During that period, the company owned 172,961 shares of the technology company’s stock after purchasing an additional 171,165 shares. As of its most recent filing with the Securities and Exchange Commission (SEC), Barclays owns approximately 0.39% of Avid Technology, worth $4,023,000.
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A number of other large investors have also recently increased or decreased their holdings in the stock. Credit Suisse AG increased its position in Avid Technology by 2.2 percent in the second quarter. Credit Suisse AG now owns 26,419 shares of the tech company worth $685,000 after acquiring an additional 562 shares during that period. The Arizona State Retirement System increased its position in Avid Technology by 6.9 percent in the second quarter. The Arizona State Retirement System now owns 9,761 shares of the tech company, worth $253,000, after acquiring an additional 633 shares during that period. Legal & General Group Plc increased its position in Avid Technology by 6.4% in the second quarter. Legal & General Group Plc now owns 13,320 shares of the technology company, worth $345,000, after acquiring an additional 807 shares during that period. Rhumbline Advisers increased its position in Avid Technology by 2.6 percent in the first quarter. Rhumbline Advisers now owns 37,125 shares of the tech company worth $1,295,000 after acquiring an additional 926 shares during that period. Finally, Heritage Investors Management Corp increased its stake in Avid Technology by 3.6% during the second quarter. Heritage Investors Management Corp now owns 29,408 shares of the tech company worth $763,000 after buying an additional 1,017 shares last quarter. 90.28% of the shares are currently held by institutional investors and hedge funds.
Wall Street analysts forecast growth
AVID has been the subject of many recent research reports. StockNews.com raised shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 8th. Rosenblatt Securities cut their price target on shares of Avid Technology from $30.00 to $28.00 and set a “neutral” rating on the company in a research report on Wednesday, November 9th. One analyst has assigned a hold rating to the stock and four have issued a buy rating on the stock. According to MarketBeat, Avid Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.
insiders place bets
In other Avid Technology news, Senior Vice President Timothy Claman sold 4,462 shares during trading on Monday, December 12th. The stocks sold for an average of $27.30, with a total transaction value of $121,812.60. Following the transaction, the Senior Vice President now owns 89,240 shares of company stock worth $2,436,252. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at this link. In other Avid Technology news, Senior Vice President Timothy Claman sold 4,462 shares during trading on Monday, December 12th. The stocks sold for an average of $27.30, with a total transaction value of $121,812.60. Following the transaction, the Senior Vice President now owns 89,240 shares of company stock worth $2,436,252. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at this link. Additionally, Senior Vice President Tom JA Cordiner sold 29,978 shares in trading on Tuesday, November 22. The stock sold at an average price of $27.90, with a total transaction value of $836,386.20. Following the transaction, the senior vice president now directly owns 193,136 shares of company stock, worth approximately $5,388,494.40. The disclosure for this sale can be found here. 6.70% of shares are currently held by insiders.
Avid Technology shares fell 0.9 percent
AVID stock opened Monday at $30.85. The 12-month low for Avid Tech was $20.83 and the 12-month high was $37.31. The company’s 50-day moving average is $27.56 and its 200-day moving average is $26.49. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 31.16, and a beta of 1.21.
Avid Technology (NASDAQ: AVID – Get Rating ) last reported quarterly earnings data on Tuesday, November 8th. The technology company reported earnings per share (EPS) of $0.29 for the quarter, beating analysts’ consensus estimate of $0.23 by $0.06. The company’s revenue for the quarter was $102.99 million, compared with analyst estimates of $105.35 million. Avid Technology has a net profit margin of 10.75% and a negative return on equity of 37.85%. Equity research analysts expect Avid Technology, Inc. to report EPS of 1.1 for the current fiscal year.
Avid Technology Brief
(get rating)
Avid Technology, Inc provides technology services to the media and entertainment industry. It develops, markets, sells and supports software and integrated solutions for video and audio content creation, management and distribution. The company was founded in September 1987 by William J. Warner and is headquartered in Burlington, MA.
further reading
Want to See What Other Hedge Funds Are Holding AVID? Visit HoldingsChannel.com for Avid Technology, Inc.’s latest 13F filings and insider trading. (NASDAQ: AVID – Get Rated).
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