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

SG Americas Securities LLC decreased its position in AvidXchange Holdings, Inc. (NASDAQ:AVDX) by 87.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 quarter.

Several other hedge funds have also recently added to or reduced their stakes in AVDX. Creative Planning raised its holdings in AvidXchange by 272.1% in the second quarter. Creative Planning now owns 38,635 shares of the company’s stock valued at $466,000 after acquiring an additional 28,253 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in AvidXchange in the second quarter valued at approximately $575,000. Handelsbanken Fonder AB increased its stake in AvidXchange by 66.7% in the third quarter. Handelsbanken Fonder AB now owns 46,000 shares of the company’s stock valued at $373,000 after purchasing an additional 18,400 shares during the last quarter. CWM LLC increased its stake in AvidXchange by 7,259.8% in the third quarter. CWM LLC now owns 6,771 shares of the company’s stock valued at $55,000 after purchasing an additional 6,679 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in AvidXchange in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 80.58% of the company’s stock.

Insider Activity at AvidXchange

In related news, Director James E. Hausman sold 25,000 shares of AvidXchange stock in a transaction on Monday, December 9th. The shares were sold at an average price of $11.25, for a total value of $281,250.00. Following the transaction, the director now directly owns 2,112,232 shares in the company, valued at $23,762,610. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Teresa Mackintosh sold 13,316 shares of AvidXchange stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.44, for a total transaction of $152,335.04. Following the completion of the transaction, the director now owns 47,388 shares in the company, valued at approximately $542,118.72. This trade represents a 21.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,693 shares of company stock worth $916,683 in the last three months. Insiders own 10.40% of the company’s stock.

AvidXchange Stock Performance

NASDAQ:AVDX opened at $9.99 on Wednesday. The firm’s fifty day moving average price is $10.57 and its 200 day moving average price is $9.40. AvidXchange Holdings, Inc. has a 1-year low of $7.38 and a 1-year high of $13.56. 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 firm has a market cap of $2.06 billion, a price-to-earnings ratio of 534.50 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVDX shares. BTIG Research started coverage on shares of AvidXchange in a research note on Wednesday, December 11th. They issued a “buy” rating and a $14.00 price target on the stock. Piper Sandler increased their price target on shares of AvidXchange from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets increased their price target on shares of AvidXchange from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. KeyCorp increased their price target on shares of AvidXchange from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Bank of America dropped their price target on shares of AvidXchange from $12.00 to $8.00 and set an “underperform” rating on the stock in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, AvidXchange presently has a consensus rating of “Hold” and an average 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.