Ryan Stahl Sells 7,621 Shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX) Stock

AvidXchange Holdings, Inc. (NASDAQ:AVDX) insider Ryan Stahl sold 7,621 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $8.13, for a total transaction of $61,958.73. Following the transaction, the insider now owns 377,030 shares in the company, valued at $3,065,253.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ryan Stahl also recently made the following trade(s):

• 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 transaction of $20,582.73.

AvidXchange Price Performance

Shares of NASDAQ AVDX opened at $8.08 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 1.36. AvidXchange Holdings, Inc. has a one year low of $6.88 and a one year high of $13.56. The firm has a market capitalization of $1.67 billion, a P/E ratio of -53.93 and a beta of 1.01. The company’s fifty day moving average is $8.77 and its two-hundred day moving average is $10.72.

AvidXchange (NASDAQ:AVDX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. AvidXchange had a negative net margin of 3.18% and a negative return on equity of 0.23%. The firm had revenue of $105.30 million for the quarter, compared to the consensus estimate of $107.13 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. Analysts forecast that AvidXchange Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On AvidXchange

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in AvidXchange by 96.3% during 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. nVerses Capital LLC acquired a new position in shares of AvidXchange during the 2nd quarter worth $66,000. Xponance Inc. purchased a new stake in shares of AvidXchange in the 2nd quarter worth about $133,000. Cardinal Capital Management acquired a new stake in AvidXchange in the 1st quarter valued at about $190,000. Finally, Natixis purchased a new position in AvidXchange during the 1st quarter valued at about $203,000. Institutional investors and hedge funds own 80.58% of the company’s stock.

Analyst Ratings Changes

AVDX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of AvidXchange from $13.50 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut AvidXchange from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $11.00 to $9.00 in a research report on Tuesday, August 20th. KeyCorp decreased their price objective on AvidXchange from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. UBS Group lowered AvidXchange from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $10.00 in a report on Thursday, August 1st. Finally, Wells Fargo & Company decreased their price target on AvidXchange from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.00.

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.