The most recent disclosure that the company has made with the Securities and Exchange Commission indicates that the Texas Permanent School Fund increased its holdings in Avid Technology, Inc. (NASDAQ: AVID) during the third quarter. This information was provided in response to questions from the SEC. The institutional investor spent approximately $568,000 to acquire 24,401 shares in the technology company. The total cost of the transaction was approximately $568,000. The Texas Permanent School Fund had approximately 0.05% of Avid Technology in its holdings at the end of the most recent fiscal quarter.
In addition, hedge funds and various other types of institutional investors have adjusted the percentage of their portfolios allocated to AVID. The Bank of New York Mellon Corporation increased the proportion of Avid Technology owned by 2.3% over the first three months of 2018. The Bank of New York Mellon Corp. now has a total of 133,570 shares of the technology company’s stock worth $4,656,000 after purchasing an additional 3,003 shares during the preceding quarter. This brings the total number of shares owned by the corporation to 133,570. MetLife Investment Management LLC acquired an additional 58.6% of Avid Technology’s total ownership shares over the first three months of 2018. MetLife Investment Management LLC is the current owner of 19,403 shares of stock in the technology company. The current market value of these shares is $677,000. This brings the total number of shares the company owns to 19,403, bringing the total number of shares to 19,403. During the first three months of 2018, Rhumbline Advisers made a 2.6% purchase of additional Avid Technology stock, bringing the total percentage of that company’s shares that it owned to 54%. Rhumbline Advisers increased their investment in the technology company by purchasing an additional 926 shares of stock during the most recent fiscal quarter. This brought the total number of shares they had acquired to 37,125, with an associated value of $1,295,000. Lord Abbett & Co. LLC increased the proportion of Avid Technology owned by 42.4% over the first three months of 2018. Lord Abbett & Co. LLC now has a total of 458,638 shares of the technology company’s stock. This is a result of the company acquiring 136,524 additional shares during the most recent fiscal quarter. This number of shares is worth a total of $15,993,000. Finally, during the first quarter, Loomis Sayles & Co. L.P. increased its holdings in Avid Technology by purchasing additional shares for approximately $20,908,000. This was done to bring the total value of its holdings in Avid Technology to approximately $20,908,000. The majority of the shares in the company are held, to the tune of 90.28 percent, by institutional investors.
Timothy Claman, the company’s senior vice president, sold 4,462 shares of company stock on Monday, December 12, according to additional information related to this topic. It was determined that the stock was sold at an average price of $27.30 per share, which resulted in a total sale volume of $121,812.60 worth of shares being transacted. The senior vice president now directly controls 89,240 shares of company stock, which have a combined value of $2,436,252 as a direct consequence of the transaction. The United States Securities and Exchange Commission was given legal documents about the transaction, which can be viewed at this location. Timothy Claman, the company’s senior vice president, sold 4,462 shares of company stock on Monday, December 12, according to additional information related to this topic. It was determined that the stock was sold at an average price of $27.30 per share, which resulted in a total sale volume of $121,812.60 worth of shares being transacted. The senior vice president now directly controls 89,240 shares of company stock, which have a combined value of $2,436,252 as a direct consequence of the transaction. Access to the legal file that details the transaction’s disclosure can be gained through the Securities and Exchange Commission’s (SEC) website. This file can be found on the website. In addition, Senior Vice President Tom J. A. Cordiner sold 29,978 shares of the company’s stock on November 22. It was determined that a total of 836,386.20 dollars’ worth of stock was traded, with an average price of $27.90 per share. The company’s senior vice president now directly owns 193,136 shares of the company’s stock, which have a combined value of $5,388,494.40 as a direct result of the transaction. Disclosures that are related to the sale might be found in this section of the website. 6.70 company insiders own a percent of the total shares currently outstanding.
On Monday morning, the price of an AVID share was $28.95 when trading began for the day. The stock is trading at a price corresponding to a price-to-earnings ratio of 29.24, and its beta value is 1.21. The value of the company’s stock on the market is estimated to be $1.26 billion. The stock is currently trading at $26.91, which is above both the 50-day and the 200-day moving averages of the price, each sitting at $26.31. Throughout the company’s history, Avid Technology, Inc. experienced a 52-week low of $20.83 and a 52-week high of $37.31 in the stock price of its shares.
On November 8, 2018, Avid Technology (NASDAQ: AVID) shared its most recent quarterly results report with the investing community. The technology company’s earnings per share for the quarter came in at $0.29, which is $0.06 higher than the estimate floating around among market participants, which was $0.23. The sales for the company for the quarter came in at $102.99 million, a significant decrease from the $105.35 million that industry experts predicted as the amount that would be earned. Despite having a net margin of 10.75 percent, Avid Technology had a return on equity that was negative by an amount of 37.85 percent. According to market watchers’ projections, Avid Technology, Inc. is expected to generate 1.1 cents per share this year.
In several different brokerage reports, AVID has been discussed as a topic of interest. On December 8, the rating for Avid Technology’s stock on the website of StockNews.com was changed from a “hold” rating to a “buy” rating. In a report distributed on November 9, Rosenblatt Securities lowered their “neutral” rating and their price objective for Avid Technology, which had previously been set at $30.00, to $28.00. This was done in conjunction with the price objective. The stock has been given a rating of “buy” by four of the research analysts have rated the stock as ” buy, ” while one recommended that investors maintain their holdings in the stock. According to the findings provided by Bloomberg, the current recommendation for Avid Technology is a “Moderate Buy,” and it is anticipated that the price of the company’s stock will reach an average of $37.20.
It is the responsibility of Avid Technology, Inc. and its subsidiaries to design, develop, market, sell, and provide technical support for software as well as integrated solutions that are utilized worldwide in producing, managing, and distributing video and audio content. The company provides a variety of video products and solutions, including the on-air server solutions AirSpeed 5000 and AirSpeed 5500, the cloud-based video editing solution Media Composer, the shared storage systems Avid NEXIS, the Maestro solutions for integrating virtual sets, augmented reality, and video wall control into existing workflows, and the MediaCentral media production suite.