Oppenheimer Asset Management Inc. trimmed its holdings in shares of Avid Technology, Inc. (NASDAQ:AVID) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,226 shares of the technology company’s stock after selling 7,514 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.37% of Avid Technology worth $733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in Avid Technology by 77.3% in the 2nd quarter. Bank of America Corp DE now owns 33,329 shares of the technology company’s stock worth $173,000 after purchasing an additional 14,531 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Avid Technology during the 3rd quarter valued at $134,000. JPMorgan Chase & Co. raised its position in shares of Avid Technology by 163.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,870 shares of the technology company’s stock valued at $865,000 after buying an additional 90,530 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Avid Technology by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,887,306 shares of the technology company’s stock valued at $11,191,000 after buying an additional 20,989 shares in the last quarter. Finally, Royce & Associates LP raised its position in shares of Avid Technology by 31.9% during the 3rd quarter. Royce & Associates LP now owns 1,507,181 shares of the technology company’s stock valued at $8,938,000 after buying an additional 364,438 shares in the last quarter. Institutional investors own 54.96% of the company’s stock.

Avid Technology stock opened at $5.00 on Monday. The firm has a market cap of $209.26 million, a PE ratio of 12.50, a P/E/G ratio of 1.00 and a beta of 1.73. Avid Technology, Inc. has a fifty-two week low of $4.26 and a fifty-two week high of $6.99.

Several research firms have recently weighed in on AVID. ValuEngine upgraded shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research report on Friday, February 1st. Finally, BidaskClub cut shares of Avid Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 27th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.42.

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Avid Technology Company Profile

Avid Technology, Inc develops, markets, sells, and supports software, hardware, and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer product line that is used to edit film, television programming, news broadcasts, commercials, and other video content; Avid shared storage systems and Avid Interplay asset management solutions, which provide complete network, storage, and database solutions to enable users to simultaneously share and manage media assets throughout a project or organization.

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

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