Avid Technology, Inc. (NASDAQ:AVID – Get Rating) SVP Tom J. A. Cordiner sold 29,978 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $27.90, for a total transaction of $836,386.20. Following the sale, the senior vice president now directly owns 193,136 shares of the company’s stock, valued at $5,388,494.40. The sale was disclosed in a document filed with the SEC, which is available through this link.
Avid Technology Stock Performance
NASDAQ AVID opened at $28.38 on Friday. The company has a market capitalization of $1.24 billion, a P/E ratio of 28.67 and a beta of 1.28. Avid Technology, Inc. has a one year low of $20.83 and a one year high of $37.31. The stock has a 50 day moving average price of $25.42 and a 200-day moving average price of $26.18.
Analyst Ratings Changes
A number of equities research analysts have issued reports on AVID shares. Rosenblatt Securities cut their price objective on shares of Avid Technology from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, November 9th. StockNews.com upgraded Avid Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.
Institutional Inflows and Outflows
About Avid Technology
Avid Technology, Inc, together with its subsidiaries, 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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