AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) insider Ryan Stahl sold 7,427 shares of AvidXchange stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $8.58, for a total value of $63,723.66. Following the sale, the insider now owns 369,603 shares in the company, valued at $3,171,193.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Ryan Stahl also recently made the following trade(s):
- On Monday, September 23rd, Ryan Stahl sold 7,621 shares of AvidXchange stock. The stock was sold at an average price of $8.13, for a total value of $61,958.73.
- On Friday, September 13th, Ryan Stahl sold 2,649 shares of AvidXchange stock. The shares were sold at an average price of $7.77, for a total value of $20,582.73.
AvidXchange Trading Up 1.5 %
AVDX stock opened at $8.58 on Friday. AvidXchange Holdings, Inc. has a one year low of $6.88 and a one year high of $13.56. The company has a market capitalization of $1.77 billion, a PE ratio of -57.20 and a beta of 1.01. The company’s 50 day moving average price is $7.98 and its two-hundred day moving average price is $10.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 1.36.
Analysts Set New Price Targets
Several equities research analysts have commented on AVDX shares. Susquehanna dropped their price objective on shares of AvidXchange from $16.00 to $14.00 and set a “positive” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company reduced their price objective on shares of AvidXchange from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Keefe, Bruyette & Woods dropped their target price on AvidXchange from $13.50 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, August 1st. KeyCorp reduced their price target on AvidXchange from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, BMO Capital Markets dropped their price objective on AvidXchange from $13.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.64.
Get Our Latest Analysis on AVDX
Hedge Funds Weigh In On AvidXchange
Several institutional investors and hedge funds have recently bought and sold shares of AVDX. Advisors Asset Management Inc. grew its holdings in shares of AvidXchange by 96.3% in the first quarter. Advisors Asset Management Inc. now owns 4,309 shares of the company’s stock worth $57,000 after purchasing an additional 2,114 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of AvidXchange in the third quarter valued at about $38,000. nVerses Capital LLC bought a new position in shares of AvidXchange during the second quarter valued at about $66,000. CWM LLC grew its stake in shares of AvidXchange by 7,259.8% in the third quarter. CWM LLC now owns 6,771 shares of the company’s stock worth $55,000 after purchasing an additional 6,679 shares during the last quarter. Finally, Xponance Inc. purchased a new position in AvidXchange during the 2nd quarter valued at about $133,000. 80.58% of the stock is currently owned by institutional investors.
About AvidXchange
AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.
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