AvidXchange Holdings, Inc. (NASDAQ:AVDX – Get Free Report) insider Ryan Stahl sold 7,427 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $8.58, for a total transaction of $63,723.66. Following the completion of the transaction, the insider now directly owns 369,603 shares of the company’s stock, valued at $3,171,193.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Price Performance
NASDAQ:AVDX traded up $0.13 during trading hours on Friday, reaching $8.58. 1,165,248 shares of the company were exchanged, compared to its average volume of 2,051,791. The stock’s 50-day moving average is $7.96 and its 200-day moving average is $10.19. AvidXchange Holdings, Inc. has a twelve month low of $6.88 and a twelve month high of $13.56. The firm has a market cap of $1.77 billion, a PE ratio of -57.33 and a beta of 1.01. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of AvidXchange from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday. Bank of America decreased their price target on shares of AvidXchange from $12.00 to $8.00 and set an “underperform” rating for the company in a report on Tuesday. Robert W. Baird dropped their price objective on shares of AvidXchange from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Susquehanna dropped their price target on AvidXchange from $16.00 to $14.00 and set a “positive” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company cut their price target on shares of AvidXchange from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.64.
Check Out Our Latest Analysis on AvidXchange
Institutional Trading of AvidXchange
Several large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased 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 valued at $57,000 after purchasing an additional 2,114 shares during the last quarter. nVerses Capital LLC acquired a new stake in AvidXchange during the second quarter worth about $66,000. CWM LLC raised its stake in AvidXchange by 7,259.8% during 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 period. Xponance Inc. acquired a new position in AvidXchange in the 2nd quarter valued at about $133,000. Finally, Cardinal Capital Management purchased a new stake in shares of AvidXchange during the 1st quarter valued at approximately $190,000. Hedge funds and other institutional investors own 80.58% of the company’s stock.
AvidXchange Company Profile
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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