AvidXchange Holdings, Inc. (NASDAQ:AVDX) Insider Ryan Stahl Sells 4,217 Shares

AvidXchange Holdings, Inc. (NASDAQ:AVDXGet Free Report) insider Ryan Stahl sold 4,217 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.43, for a total transaction of $52,417.31. Following the completion of the transaction, the insider now owns 384,588 shares in the company, valued at $4,780,428.84. The transaction was disclosed in a filing with the SEC, which is available at this link.

AvidXchange Stock Performance

Shares of AVDX opened at $12.91 on Wednesday. The business’s fifty day moving average price is $11.92 and its 200 day moving average price is $10.72. AvidXchange Holdings, Inc. has a 12-month low of $6.88 and a 12-month high of $13.56. The stock has a market capitalization of $2.64 billion, a PE ratio of -56.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 1.25.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AVDX shares. BTIG Research started coverage on shares of AvidXchange in a report on Wednesday, December 6th. They issued a “buy” rating and a $14.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of AvidXchange from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Barclays increased their price objective on shares of AvidXchange from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. TheStreet raised shares of AvidXchange from a “d+” rating to a “c-” rating in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of AvidXchange from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, AvidXchange currently has a consensus rating of “Moderate Buy” and an average target price of $13.29.

Check Out Our Latest Analysis on AvidXchange

Institutional Investors Weigh In On AvidXchange

Hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI bought a new stake in AvidXchange in the fourth quarter valued at $54,000. Quarry LP acquired a new position in AvidXchange during the first quarter worth about $58,000. Russell Investments Group Ltd. acquired a new position in AvidXchange during the second quarter worth about $65,000. Ensign Peak Advisors Inc acquired a new position in AvidXchange during the third quarter worth about $78,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in AvidXchange during the second quarter worth about $86,000. 70.42% of the stock is currently owned by institutional investors.

About AvidXchange

(Get Free Report)

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 Cashflow manager that provides cash management solutions.

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Insider Buying and Selling by Quarter for AvidXchange (NASDAQ:AVDX)

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