StockNews.com Begins Coverage on Avid Technology (NASDAQ:AVID)

StockNews.com began coverage on shares of Avid Technology (NASDAQ:AVID – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a buy rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial began coverage on shares of Avid Technology in a research report on Monday, March 6th. They issued a buy rating and a $45.00 price objective for the company. Rosenblatt Securities restated a neutral rating and issued a $28.00 price objective on shares of Avid Technology in a research report 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 report on Friday, March 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Avid Technology presently has a consensus rating of Moderate Buy and an average target price of $37.83.

Avid Technology Price Performance

Shares of AVID opened at $28.69 on Thursday. The company has a market capitalization of $1.26 billion, a P/E ratio of 23.33 and a beta of 1.23. Avid Technology has a one year low of $20.83 and a one year high of $37.31. The business’s 50 day simple moving average is $29.73 and its 200-day simple moving average is $27.20.

Institutional Trading of Avid Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its position in shares of Avid Technology by 0.4% during the 4th quarter. Legal & General Group Plc now owns 81,595 shares of the technology company’s stock valued at $2,170,000 after acquiring an additional 337 shares during the last quarter. Credit Suisse AG raised its position in shares of Avid Technology by 1.6% during the 4th quarter. Credit Suisse AG now owns 31,933 shares of the technology company’s stock valued at $849,000 after acquiring an additional 502 shares during the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Avid Technology by 3.2% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,200 shares of the technology company’s stock valued at $511,000 after acquiring an additional 600 shares during the last quarter. Oak Ridge Investments LLC raised its position in shares of Avid Technology by 0.7% during the 3rd quarter. Oak Ridge Investments LLC now owns 98,110 shares of the technology company’s stock valued at $2,282,000 after acquiring an additional 640 shares during the last quarter. Finally, Pathstone Family Office LLC raised its position in shares of Avid Technology by 7.8% during the 3rd quarter. Pathstone Family Office LLC now owns 11,927 shares of the technology company’s stock valued at $277,000 after acquiring an additional 868 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

About Avid Technology

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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.