Vanguard Group Inc. lowered its stake in shares of Avid Technology, Inc. (NASDAQ:AVID) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,223,374 shares of the technology company’s stock after selling 149,844 shares during the period. Vanguard Group Inc. owned 5.44% of Avid Technology worth $11,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. bought a new stake in Avid Technology in the second quarter worth $140,000. Goldman Sachs Group Inc. bought a new stake in Avid Technology in the first quarter worth $133,000. Rhumbline Advisers increased its position in Avid Technology by 1.5% in the second quarter. Rhumbline Advisers now owns 38,892 shares of the technology company’s stock worth $205,000 after purchasing an additional 558 shares during the last quarter. SG Americas Securities LLC increased its position in Avid Technology by 32.1% in the second quarter. SG Americas Securities LLC now owns 39,248 shares of the technology company’s stock worth $206,000 after purchasing an additional 9,543 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in Avid Technology in the second quarter worth $396,000. Hedge funds and other institutional investors own 71.77% of the company’s stock.
AVID has been the topic of several research reports. ValuEngine upgraded shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Zacks Investment Research lowered shares of Avid Technology from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Dougherty & Co lowered shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price objective for the company. in a research note on Thursday.
Avid Technology, Inc. (NASDAQ:AVID) traded down $0.55 during midday trading on Thursday, reaching $5.95. 1,331,378 shares of the company’s stock traded hands, compared to its average volume of 402,109. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $278.42, a price-to-earnings ratio of 18.78 and a beta of 1.78. Avid Technology, Inc. has a 52 week low of $3.99 and a 52 week high of $7.65.
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Avid Technology Company Profile
Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.
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