Swiss National Bank Has $2.29 Million Stake in Avid Technology, Inc. (NASDAQ:AVID)

Swiss National Bank raised its holdings in Avid Technology, Inc. (NASDAQ:AVID – Get Rating) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,200 shares of the technology company’s stock after acquiring an additional 1,400 shares during the period. Swiss National Bank owned about 0.20% of Avid Technology worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in Avid Technology by 12,291.7% in the first quarter. Covestor Ltd now owns 1,487 shares of the technology company’s stock valued at $52,000 after acquiring an additional 1,475 shares during the period. KBC Group NV bought a new stake in Avid Technology during the third quarter worth about $58,000. Counterpoint Mutual Funds LLC bought a new stake in Avid Technology during the fourth quarter worth about $108,000. Ensign Peak Advisors Inc raised its holdings in Avid Technology by 309.8% during the third quarter. Ensign Peak Advisors Inc now owns 6,270 shares of the technology company’s stock worth $146,000 after acquiring an additional 4,740 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in Avid Technology during the third quarter worth about $157,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com assumed coverage on Avid Technology in a report on Thursday, May 18th. They set a “buy” rating on the stock. Truist Financial began 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. Rosenblatt Securities restated a “neutral” rating and issued a $28.00 price objective on shares of Avid Technology in a research note on Friday, March 3rd. Finally, Maxim Group restated a “buy” rating and issued a $38.00 price objective on shares of Avid Technology in a research note on Friday, March 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Avid Technology currently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Avid Technology Trading Up 22.9 %

Avid Technology stock opened at $25.16 on Thursday. Avid Technology, Inc. has a 12 month low of $19.78 and a 12 month high of $33.41. The stock’s 50 day moving average is $27.85 and its 200-day moving average is $28.14. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 25.41 and a beta of 1.21.

Avid Technology (NASDAQ:AVID – Get Rating) last posted its earnings results on Wednesday, March 1st. The technology company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.07). Avid Technology had a net margin of 10.68% and a negative return on equity of 28.67%. The firm had revenue of $116.10 million during the quarter, compared to analyst estimates of $114.09 million. As a group, equities research analysts predict that Avid Technology, Inc. will post 1.17 earnings per share for the current fiscal year.

Avid Technology Profile

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Avid Technology, Inc engages in the provision of technology services for the 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.