The company’s most recent Form 13F filing with the Securities and Exchange Commission revealed that the Alaska Department of Treasury made a new investment in Avid Technology, Inc. (NASDAQ: AVID) in the third quarter of 2018. The company had to pay a total of $546,000 to buy 23,487 shares of the tech company. This meant a considerable financial investment on your part. The Alaska Department of Treasury owned approximately 0.05% of Avid Technology’s stock at the end of its most recent fiscal quarter.
Recent transactions have caused several institutional investors and other hedge funds to change the number of shares of the company they currently hold in their portfolios. The Avid Technology holdings held by Covestor Ltd. owned at the beginning of the year, rose 12,291.7% in the first three months. After an additional purchase of 1,475 shares last quarter, Covestor Ltd. now owns 1,487 shares of the tech company, valued at $52,000. This increases the total number of shares held by Covestor, Ltd. Invested in the company through the acquisition of a new interest in Avid Technology in the second quarter, Americas Securities LLC, for a total of $154,000. In addition, Fox Run Management LLC increased the value of its existing Avid Technology stock with an additional $212,000 investment. This transaction took place in the second quarter. The value of the new position in Avid Technology opened by Dupont Capital Management Corporation during the second quarter was $215,000.
Last but not least, TownSquare Capital LLC opened a new position in shares of Avid Technology during the second quarter, bringing the total investment to $222,000. Institutional investors and hedge funds together hold 90.28 percent of the company’s total number of shares. These investors also have voting rights.
Tom JA Cordiner, the senior vice president of this company, sold 29,978 shares of the company on November 22nd. This is another development relevant to this topic. It was noted that a total of $836,386.20 in shares traded at an average price per share of $27.90. As a result of the successful completion of the transaction, the Senior Vice President now directly owns 193,136 shares of the Company, having an aggregate value of approximately $5,388,494.40. The Securities and Exchange Commission has received legal documentation relating to the transaction, which can be viewed in full by following the link provided in the previous sentence. The documentation has been filed with the SEC. On Monday, December 12, Senior Vice President Timothy Claman completed the sale of 4,462 shares of the Company’s shares. Additional developments include the following: Each share was priced at $27.30 resulting in a total selling volume of $121,812.60 and an average price per share of $27.30. Upon closing of the transaction, the senior vice president will own a total of 89,240 shares of the company, giving him an equity stake in the company of approximately $2,436,252. The Securities and Exchange Commission’s (SEC) website is currently available for information provided to the SEC in connection with the sale. Additionally, on November 22, Senior Vice President and General Counsel Tom JA Cordiner sold 29,978 shares of the company’s stock. It was noted that a total of $836,386.20 in shares traded at an average price per share of $27.90. As a direct result of the transaction, the senior vice president now owns 193,136 shares in her name. The value of these shares on the market is currently around $5,388,494.40. Disclosures related to sales may be found in this section of the website. 6.40 Company insiders own 1 percent of all shares currently outstanding.
On Friday, the price at which trading on the NASDAQ AVID Index started was $28.88. This company has a price to earnings ratio of 29.17, a beta value of 1.21 and a market cap of $1.26 billion. Avid Technology, Inc. hit an all-time high of $37.31 versus the company’s all-time low of $20.83 over the same period. The company’s fifty-day moving average price is $26.29 and its two-hundred-day moving average price is also $26.29 for both periods.
On November 8th, 2018, Avid Technology (NASDAQ: AVID) shared its latest quarterly earnings report with the investor community. The tech company reported earnings per share of $0.29 for the quarter, up $0.06 from the consensus estimate of $0.23. Earnings are reported in US dollars. Avid Technology reported a negative return on equity of 37.85% while the company’s net margin was 10.75%. The company’s revenue during the period was $102.99 million, below the average industry analyst forecast of $105.35 million for the period. Sell-side analysts expect Avid Technology, Inc. to post earnings of 1.1 cents per share for the remainder of the current fiscal year.
Recent events have resulted in several equity analysts providing their perspectives on the company’s share price. Rosenblatt Securities lowered its price target on Avid Technology to $28.00 from $30.00 in a report published on Wednesday, November 9. Despite this change, the brokerage firm maintained a “neutral” rating on the stock. A report published by StockNews.com on Dec. 8 recommended buying shares in Avid Technology, despite the company’s previous rating of “hold.” The stock has been given a buy rating by five different analysts, with one recommending investors hold on to their shares. According to data provided by Bloomberg, the current consensus rating for Avid Technology is Moderate Buy and the current consensus price target for the company is $37.20. Similarly, the current consensus price target for the company is also $37.20.
Avid Technology, Inc. and its subsidiaries create, market and sell software on a global basis and develop integrated solutions for the production, management and delivery of video and audio content. The company offers a variety of video products and solutions, including AirSpeed 5000 and AirSpeed 5500 on-air server solutions, Media Composer cloud-based video editing solution, Avid NEXIS shared storage systems, Maestro virtual set integration solutions, of reality and video wall control into existing workflows and the MediaCentral Media Production Suite.