Avid Technology, Inc. (AVID) Holdings Cut by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Avid Technology, Inc. (NASDAQ:AVID) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 154,226 shares of the technology company’s stock after selling 7,514 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Avid Technology were worth $733,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Avid Technology during the 4th quarter valued at about $58,000. Engineers Gate Manager LP purchased a new position in Avid Technology during the 3rd quarter valued at about $134,000. Bank of America Corp DE lifted its position in Avid Technology by 77.3% during the 2nd quarter. Bank of America Corp DE now owns 33,329 shares of the technology company’s stock valued at $173,000 after acquiring an additional 14,531 shares during the period. JPMorgan Chase & Co. lifted its position in Avid Technology by 163.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,870 shares of the technology company’s stock valued at $865,000 after acquiring an additional 90,530 shares during the period. Finally, Royce & Associates LP lifted its position in Avid Technology by 31.9% during the 3rd quarter. Royce & Associates LP now owns 1,507,181 shares of the technology company’s stock valued at $8,938,000 after acquiring an additional 364,438 shares during the period. 54.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of Avid Technology stock opened at $5.00 on Monday. The stock has a market capitalization of $209.26 million, a price-to-earnings ratio of 12.50, a PEG ratio of 1.00 and a beta of 1.73. Avid Technology, Inc. has a 52-week low of $4.26 and a 52-week high of $6.99.

AVID has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group initiated coverage on shares of Avid Technology in a research report on Tuesday, November 13th. They set a “hold” rating and a $6.00 price target for the company. ValuEngine cut shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Dougherty & Co raised shares of Avid Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, January 30th. Finally, BidaskClub raised shares of Avid Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.42.

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Avid Technology Company Profile

Avid Technology, Inc develops, markets, sells, and supports software, hardware, and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer product line that is used to edit film, television programming, news broadcasts, commercials, and other video content; Avid shared storage systems and Avid Interplay asset management solutions, which provide complete network, storage, and database solutions to enable users to simultaneously share and manage media assets throughout a project or organization.

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

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