Avid Technology, Inc. (NASDAQ:AVID) Director Robert M. Bakish sold 19,510 shares of the company’s stock in a transaction on Friday, July 16th. The stock was sold at an average price of $37.39, for a total transaction of $729,478.90. Following the transaction, the director now owns 794,800 shares of the company’s stock, valued at approximately $29,717,572. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Robert M. Bakish also recently made the following trade(s):
- On Monday, July 19th, Robert M. Bakish sold 23,510 shares of Avid Technology stock. The stock was sold at an average price of $36.63, for a total transaction of $861,171.30.
AVID stock opened at $37.42 on Thursday. Avid Technology, Inc. has a 52 week low of $7.23 and a 52 week high of $40.48. The company’s fifty day simple moving average is $35.07. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 77.96 and a beta of 1.40.
AVID has been the subject of a number of research reports. B. Riley upped their target price on shares of Avid Technology from $25.00 to $30.00 in a research report on Thursday, May 6th. Northland Securities restated a “buy” rating on shares of Avid Technology in a research report on Monday, March 29th. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $21.40.
A number of hedge funds have recently added to or reduced their stakes in AVID. Marshall Wace LLP bought a new position in Avid Technology during the first quarter valued at $324,000. Bank of New York Mellon Corp lifted its holdings in shares of Avid Technology by 40.6% in the 4th quarter. Bank of New York Mellon Corp now owns 139,827 shares of the technology company’s stock worth $2,220,000 after acquiring an additional 40,367 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Avid Technology by 13.4% in the 4th quarter. Wells Fargo & Company MN now owns 88,387 shares of the technology company’s stock worth $1,403,000 after acquiring an additional 10,456 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Avid Technology by 346.2% in the 4th quarter. Renaissance Technologies LLC now owns 90,800 shares of the technology company’s stock worth $1,441,000 after acquiring an additional 70,452 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Avid Technology by 6.1% in the 4th quarter. Rhumbline Advisers now owns 38,740 shares of the technology company’s stock worth $615,000 after acquiring an additional 2,220 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.
About Avid Technology
Avid Technology, Inc develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, a cloud-enabled solution used to edit video content; Avid NEXIS shared storage systems; Maestro solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows; AirSpeed 5000 and AirSpeed 5500 on-air server solutions; and MediaCentral, a media production suite.
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