AvidXchange Holdings, Inc. (NASDAQ:AVDX) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in AvidXchange Holdings, Inc. (NASDAQ:AVDX) by 87.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,638 shares of the company’s stock after selling 80,253 shares during the quarter. SG Americas Securities LLC’s holdings in AvidXchange were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Captrust Financial Advisors lifted its holdings in AvidXchange by 9.2% in the third quarter. Captrust Financial Advisors now owns 17,350 shares of the company’s stock valued at $141,000 after acquiring an additional 1,465 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of AvidXchange by 29.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,211 shares of the company’s stock worth $107,000 after buying an additional 3,019 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of AvidXchange during the 3rd quarter worth $37,000. Allspring Global Investments Holdings LLC acquired a new position in shares of AvidXchange during the 3rd quarter worth $38,000. Finally, CWM LLC raised its stake in shares of AvidXchange by 7,259.8% during the 3rd quarter. CWM LLC now owns 6,771 shares of the company’s stock worth $55,000 after buying an additional 6,679 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

AvidXchange Stock Down 1.7 %

AVDX opened at $9.99 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 534.50 and a beta of 1.22. The business has a 50-day moving average of $10.57 and a two-hundred day moving average of $9.40. AvidXchange Holdings, Inc. has a 12 month low of $7.38 and a 12 month high of $13.56.

Insider Buying and Selling at AvidXchange

In other news, Director Teresa Mackintosh sold 13,316 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $11.44, for a total transaction of $152,335.04. Following the completion of the sale, the director now owns 47,388 shares in the company, valued at approximately $542,118.72. The trade was a 21.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Hausman sold 25,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $11.25, for a total value of $281,250.00. Following the sale, the director now owns 2,112,232 shares of the company’s stock, valued at $23,762,610. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,693 shares of company stock worth $916,683 in the last 90 days. 10.40% of the stock is owned by company insiders.

Analyst Ratings Changes

AVDX has been the subject of several research reports. Bank of America cut their price target on AvidXchange from $12.00 to $8.00 and set an “underperform” rating for the company in a research note on Tuesday, October 15th. Piper Sandler lifted their price target on AvidXchange from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price target on AvidXchange from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. BTIG Research assumed coverage on shares of AvidXchange in a research note on Wednesday, December 11th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Keefe, Bruyette & Woods cut their target price on shares of AvidXchange from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, AvidXchange presently has an average rating of “Hold” and a consensus target price of $11.61.

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.