Avid Technology, Inc. (NASDAQ:AVID) Shares Sold by Putnam Investments LLC

Putnam Investments LLC decreased its holdings in shares of Avid Technology, Inc. (NASDAQ:AVID – Get Rating) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,182 shares of the technology company’s stock after selling 7,679 shares during the period. Putnam Investments LLC’s holdings in Avid Technology were worth $1,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of Avid Technology in the 2nd quarter worth approximately $212,000. Yousif Capital Management LLC acquired a new stake in shares of Avid Technology in the 3rd quarter worth approximately $642,000. Dimensional Fund Advisors LP grew its holdings in shares of Avid Technology by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,269,855 shares of the technology company’s stock worth $29,535,000 after acquiring an additional 15,119 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Avid Technology by 517.0% in the 3rd quarter. Lazard Asset Management LLC now owns 126,654 shares of the technology company’s stock worth $2,945,000 after acquiring an additional 106,126 shares during the period. Finally, Oberweis Asset Management Inc. grew its holdings in shares of Avid Technology by 20.1% in the 3rd quarter. Oberweis Asset Management Inc. now owns 37,700 shares of the technology company’s stock worth $877,000 after acquiring an additional 6,300 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVID. StockNews.com upgraded Avid Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 8th. Maxim Group reiterated a “buy” rating and set a $38.00 target price on shares of Avid Technology in a report on Friday, March 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $28.00 target price on shares of Avid Technology in a report on Friday, March 3rd. Finally, Truist Financial started coverage on Avid Technology in a report on Monday, March 6th. They set a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.83.

Avid Technology Stock Down 0.5 %

Shares of Avid Technology stock opened at $28.54 on Tuesday. Avid Technology, Inc. has a fifty-two week low of $20.83 and a fifty-two week high of $37.31. The firm has a market cap of $1.25 billion, a PE ratio of 23.20 and a beta of 1.23. The business’s fifty day moving average is $29.51 and its two-hundred day moving average is $27.09.

Avid Technology Profile

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Avid Technology, Inc engages in the provision of technology services for media and entertainment industry. It develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management and distribution. The company was founded by William J. Warner in September 1987 and is headquartered in Burlington, MA.