1 week Ago By Defense World Staff
JPMorgan Chase & Co. cut its stake in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX – Free Report) by 37.
2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,156,792 shares of the company’s stock after selling 1,280,242 shares during the period. JPMorgan Chase & Co.
owned about 1.05% of AvidXchange worth $22,301,000 as of its most recent SEC filing. A number of other large investors also recently modified their holdings of AVDX.
Xponance Inc. raised its position in AvidXchange by 9.2% in the fourth quarter.
Xponance Inc. now owns 12,459 shares of the company’s stock valued at $129,000 after purchasing an additional 1,045 shares during the last quarter. Blue Trust Inc.
increased its position in AvidXchange by 90.1% in the 4th quarter. Blue Trust Inc.
now owns 2,697 shares of the company’s stock valued at $28,000 after acquiring an additional 1,278 shares during the period. Captrust Financial Advisors increased its position in AvidXchange by 9.2% in the 3rd 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. Rhumbline Advisers raised its stake in shares of AvidXchange by 1.0% during the fourth quarter.
Rhumbline Advisers now owns 234,738 shares of the company’s stock valued at $2,427,000 after acquiring an additional 2,391 shares during the last quarter. Finally, KBC Group NV increased its holdings in AvidXchange by 60.9% in the fourth quarter.
KBC Group NV now owns 8,836 shares of the company’s stock valued at $91,000 after purchasing an additional 3,344 shares during the period. 80.58% of the stock is currently owned by institutional investors.
Insider Transactions at AvidXchangeIn other AvidXchange news, CEO Michael Praeger sold 58,881 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $7.59, for a total value of $446,906.
79. Following the completion of the sale, the chief executive officer now directly owns 11,164,737 shares of the company’s stock, valued at $84,740,353.83.
This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Also, President Daniel Drees sold 34,782 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $7.59, for a total value of $263,995.
38. Following the completion of the sale, the president now owns 1,176,833 shares in the company, valued at $8,932,162.47.
This represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Insiders have sold 125,866 shares of company stock worth $955,323 in the last 90 days. Insiders own 10.40% of the company’s stock.
Analysts Set New Price TargetsSeveral research analysts have commented on AVDX shares. Wells Fargo & Company cut their target price on AvidXchange from $10.00 to $8.
00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Barclays downgraded shares of AvidXchange from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $13.00 to $8.
00 in a research report on Tuesday, March 4th. Piper Sandler dropped their price target on shares of AvidXchange from $10.00 to $8.
00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of AvidXchange from $11.00 to $8.
00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their price objective on AvidXchange from $9.50 to $7.
00 and set a “sell” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.
com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.07.Get Our Latest Analysis on AVDXAvidXchange Stock Up 9.
3 %AVDX stock opened at $7.88 on Thursday. The firm has a market capitalization of $1.
61 billion, a PE ratio of 197.00 and a beta of 1.14.
The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.
11. AvidXchange Holdings, Inc. has a twelve month low of $6.
61 and a twelve month high of $12.93. The stock’s 50 day moving average is $8.
58 and its 200-day moving average is $9.40. AvidXchange (NASDAQ:AVDX – Get Free Report) last posted its earnings results on Wednesday, February 26th.
The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.
03). AvidXchange had a positive return on equity of 0.74% and a negative net margin of 0.
23%. The firm had revenue of $115.44 million during the quarter, compared to the consensus estimate of $114.
98 million. Sell-side analysts expect that AvidXchange Holdings, Inc. will post 0.
02 EPS for the current fiscal year. AvidXchange Profile (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 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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