O Brien Greene & Co. Inc Sells 3,000 Shares of Avid Technology, Inc. (NASDAQ:AVID)

O Brien Greene & Co. Inc reduced its stake in shares of Avid Technology, Inc. (NASDAQ:AVIDGet Rating) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,225 shares of the technology company’s stock after selling 3,000 shares during the period. O Brien Greene & Co. Inc owned 0.09% of Avid Technology worth $1,368,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Loomis Sayles & Co. L P bought a new position in shares of Avid Technology in the 1st quarter worth about $20,908,000. Portolan Capital Management LLC raised its position in shares of Avid Technology by 70.6% in the 1st quarter. Portolan Capital Management LLC now owns 739,345 shares of the technology company’s stock worth $25,781,000 after acquiring an additional 305,963 shares in the last quarter. Brahman Capital Corp. raised its position in shares of Avid Technology by 38.5% in the 4th quarter. Brahman Capital Corp. now owns 964,030 shares of the technology company’s stock worth $31,398,000 after acquiring an additional 267,969 shares in the last quarter. Patient Capital Management LLC bought a new position in shares of Avid Technology in the 4th quarter worth about $7,403,000. Finally, Lord Abbett & CO. LLC raised its position in shares of Avid Technology by 42.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 458,638 shares of the technology company’s stock worth $15,993,000 after acquiring an additional 136,524 shares in the last quarter. 80.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AVID has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their target price on Avid Technology from $33.00 to $30.00 in a research report on Monday, May 23rd. JPMorgan Chase & Co. initiated coverage on Avid Technology in a research report on Wednesday, July 6th. They issued an “overweight” rating and a $33.00 target price for the company. TheStreet lowered Avid Technology from a “b-” rating to a “c” rating in a research report on Wednesday, May 25th. Northland Securities boosted their target price on Avid Technology from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, May 25th. Finally, Rosenblatt Securities began coverage on Avid Technology in a research report on Monday, July 11th. They issued a “neutral” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.60.

Avid Technology Stock Performance

AVID stock opened at $25.63 on Wednesday. The company has a market capitalization of $1.14 billion, a P/E ratio of 24.64 and a beta of 1.20. Avid Technology, Inc. has a 52-week low of $20.83 and a 52-week high of $37.31. The business has a 50-day simple moving average of $26.88 and a two-hundred day simple moving average of $28.81.

Avid Technology (NASDAQ:AVIDGet Rating) last announced its earnings results on Tuesday, August 2nd. The technology company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. Avid Technology had a negative return on equity of 35.68% and a net margin of 11.44%. During the same period in the prior year, the firm posted $0.17 EPS. As a group, sell-side analysts forecast that Avid Technology, Inc. will post 1.12 earnings per share for the current fiscal year.

Avid Technology Company Profile

(Get Rating)

Avid Technology, Inc, together with its subsidiaries, develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, a cloud-enabled solution used to edit video content; Avid NEXIS shared storage systems; Maestro solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows; AirSpeed 5000 and AirSpeed 5500 on-air server solutions; and MediaCentral, a media production suite.

See Also

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Institutional Ownership by Quarter for Avid Technology (NASDAQ:AVID)

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