Avid Technology, Inc. (AVID) Director Robert M. Bakish Purchases 20,000 Shares

Avid Technology, Inc. (NASDAQ:AVID) Director Robert M. Bakish acquired 20,000 shares of Avid Technology stock in a transaction on Tuesday, December 5th. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $133,800.00. Following the acquisition, the director now owns 693,058 shares in the company, valued at approximately $4,636,558.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Avid Technology, Inc. (AVID) traded down $0.55 during trading on Thursday, hitting $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 market cap of $278.42, a PE 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. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Avid Technology by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,373,218 shares of the technology company’s stock valued at $11,059,000 after acquiring an additional 35,225 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Avid Technology in the 2nd quarter valued at $470,000. Ameriprise Financial Inc. bought a new stake in shares of Avid Technology in the 2nd quarter valued at $396,000. S Squared Technology LLC bought a new stake in shares of Avid Technology in the 2nd quarter valued at $1,262,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Avid Technology by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,909,953 shares of the technology company’s stock valued at $10,047,000 after buying an additional 229,071 shares in the last quarter. Institutional investors own 71.77% of the company’s stock.

Several brokerages have commented on AVID. ValuEngine cut shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Dougherty & Co cut shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 target price for the company. in a research report on Thursday. Finally, Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, November 15th.

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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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