Bailard Inc. bought a new stake in AvidXchange Holdings, Inc. (NASDAQ:AVDX – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,120 shares of the company’s stock, valued at approximately $732,000.
Other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in shares of AvidXchange by 90.3% during the 4th quarter. New York State Common Retirement Fund now owns 116,473 shares of the company’s stock worth $1,443,000 after buying an additional 55,254 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of AvidXchange by 114.4% during the 4th quarter. Handelsbanken Fonder AB now owns 23,800 shares of the company’s stock worth $295,000 after buying an additional 12,700 shares in the last quarter. Cornerstone Investment Partners LLC bought a new position in shares of AvidXchange during the 4th quarter worth approximately $178,000. Calamos Advisors LLC bought a new position in shares of AvidXchange during the 4th quarter worth approximately $1,875,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of AvidXchange by 24.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,877,536 shares of the company’s stock worth $23,263,000 after buying an additional 372,291 shares in the last quarter. 80.58% of the stock is currently owned by institutional investors.
Insider Activity at AvidXchange
In related news, insider Todd Alan Cunningham sold 11,340 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $13.00, for a total value of $147,420.00. Following the completion of the sale, the insider now directly owns 173,019 shares of the company’s stock, valued at approximately $2,249,247. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Todd Alan Cunningham sold 11,340 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $13.00, for a total transaction of $147,420.00. Following the completion of the sale, the insider now directly owns 173,019 shares of the company’s stock, valued at approximately $2,249,247. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joel Wilhite sold 27,384 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.15, for a total value of $360,099.60. Following the sale, the insider now directly owns 327,100 shares of the company’s stock, valued at $4,301,365. The disclosure for this sale can be found here. In the last three months, insiders sold 3,010,167 shares of company stock valued at $39,077,190. 10.30% of the stock is owned by insiders.
Analysts Set New Price Targets
View Our Latest Report on AvidXchange
AvidXchange Price Performance
NASDAQ AVDX opened at $11.96 on Friday. The business has a fifty day simple moving average of $12.38 and a 200 day simple moving average of $11.23. AvidXchange Holdings, Inc. has a 12 month low of $6.88 and a 12 month high of $13.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.25 and a quick ratio of 1.25.
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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