Vanguard Group Inc. increased its stake in Avid Technology, Inc. (OTCMKTS:AVID) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,373,218 shares of the technology company’s stock after buying an additional 35,225 shares during the period. Vanguard Group Inc.’s holdings in Avid Technology were worth $11,059,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of Avid Technology by 7.9% in the fourth quarter. State Street Corp now owns 487,441 shares of the technology company’s stock valued at $2,146,000 after buying an additional 35,838 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Avid Technology by 4.1% in the fourth quarter. Renaissance Technologies LLC now owns 109,100 shares of the technology company’s stock valued at $480,000 after buying an additional 4,300 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Avid Technology by 17.9% in the first quarter. Russell Investments Group Ltd. now owns 1,358,646 shares of the technology company’s stock valued at $6,332,000 after buying an additional 206,424 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Avid Technology by 522.6% in the first quarter. Wells Fargo & Company MN now owns 150,596 shares of the technology company’s stock valued at $702,000 after buying an additional 126,406 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Avid Technology during the first quarter valued at approximately $371,000.

Shares of Avid Technology, Inc. (AVID) traded up 1.36% on Friday, hitting $4.47. The stock had a trading volume of 118,783 shares. The company has a 50-day moving average of $4.84 and a 200 day moving average of $5.09. Avid Technology, Inc. has a 52 week low of $3.99 and a 52 week high of $9.15. The company has a market capitalization of $183.85 million and a price-to-earnings ratio of 114.62.

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AVID has been the subject of several research analyst reports. Zacks Investment Research downgraded Avid Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. ValuEngine downgraded Avid Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th.

In other Avid Technology news, CEO Louis Hernandez, Jr. purchased 136,653 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was bought at an average cost of $4.99 per share, with a total value of $681,898.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Avid Technology Company Profile

Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.

Institutional Ownership by Quarter for Avid Technology (OTCMKTS:AVID)

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