During the third quarter, Putnam Investments LLC cut its position in Avid Technologies, Inc. (NASDAQ: AVID) by 11.0%, according to its most recent 13F filing with the SEC.
The corporation was left with 62,182 shares of the stock in the technological company after selling 7,679 of its shares over the time.
The most recent SEC filing by Putnam Investments LLC indicated that the business owned 0.14% of Avid Technologies, which was worth $1,447,000 at the time.
In recent weeks, a growing number of research businesses have shown an interest in AVID.
They recommended investing in the firm and establishing a price target of $45.00.
Avid Technologies was upgraded by StockNews.com from a “hold” rating to a “buy” recommendation in a report released on Thursday, December 8th.
This modification signifies that the website now endorses the stock.
In a research report released on Friday, March 3rd, Maxim Group reiterated their “buy” rating on shares of Avid Technology.
They also issued a price objective of $38.00 for the stock. In a report released on Friday, March 3rd, Rosenblatt Securities reiterated a “neutral” rating on shares of Avid Technology and set a $28.00 price target for the company.
There are presently five analysts that have assigned the stock a buy rating, while just one analyst has assigned the stock a hold rating.
According to data given by Bloomberg, the current consensus rating for Avid Technology is “Moderate Buy,” and the price target for the business is $37.83.
Institutional investors and other hedge funds have either grown their current ownership stake in the firm or lowered their previous ownership stake.
During the third quarter, BlackRock INC grew its holding in Avid Technology by 122.4%.
BlackRock INC now has a total of 5,410,382 shares of the technology company’s stock following the recent acquisition of an additional 2,977,539 shares.
The current market value for 5,410,382 shares of BlackRock INC is $125,845,000.
The fraction of Avid Technology shares owned by FMR LLC increased by 37.2% during the second quarter. FMR LLC now holdings 4,910,542 shares of the technology company’s stock following the acquisition of an additional 1,330,348 shares during the most recent quarter.
The stock now has a total value of $127,429,000 due to the total number of shares held by the corporation.
Loomis Sayles & Co L.P. has made a fresh investment in Avid Technologies totaling $20,908,000.
During the first quarter of 2018,
The fraction of Avid Technology shares owned by JPMorgan Chase & Co climbed by 190.6% during the second quarter. JPMorgan Chase & Co now holds 366,459 shares of the technology company’s stock following the acquisition of an additional 240,379 shares during the period.
The value of these shares takes the company’s entire holdings to $9,510,000.
And lastly, during the third quarter of 2018, the Healthcare of Ontario Pension Plan Trust Fund spent a total of $5,099,000 in the acquisition of shares of Avid Technologies.
90.28 percent of the company’s total shares are collectively owned by institutions.
Tuesday was the debut trading day for AVID shares at $28.54 per share.
Throughout the time covered by this study, the stock price of Avid Technologies, INC fluctuated between $37.31 and $20.83 over the course of one year.
Now, the company’s share price has a price-to-earnings ratio of 23.20, a beta value of 1.23, and a market capitalization of $1.25 billion.
The 50-day moving average for the company is now $29.51, and the 200-day moving average for the stock is at $27.09.
The clientele of Avid Technologies, INC originate from the media and entertainment sectors, and they receive a variety of technological services from Avid.
It produces software and integrated solutions that enable the production, management, and distribution of audio and video material, which it then distributes, sells, and offers customer support for.
These actions are conducted in order to fulfill the requirements of its consumers.
The corporation has facilities in the United Kingdom, Canada, and other worldwide places in addition to its headquarters in the United States of America.
Are you interested in knowing more about the other hedge funds that provide money to AVID? HoldingsChannel.com provides access to Avid Technology, INC’s most recent 13F filings and insider transactions.