Strs Ohio trimmed its holdings in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX – Free Report) by 83.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,300 shares of the company’s stock after selling 16,700 shares during the quarter. Strs Ohio’s holdings in AvidXchange were worth $40,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of AvidXchange by 24.7% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,877,536 shares of the company’s stock worth $23,263,000 after purchasing an additional 372,291 shares during the last quarter. Highland Capital Management LLC acquired a new position in AvidXchange during the 4th quarter worth about $145,000. ARK Investment Management LLC grew its position in shares of AvidXchange by 10.1% in the 4th quarter. ARK Investment Management LLC now owns 1,109,512 shares of the company’s stock valued at $13,747,000 after buying an additional 101,878 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of AvidXchange in the fourth quarter valued at about $168,000. Finally, Vanguard Group Inc. raised its position in shares of AvidXchange by 5.2% during the third quarter. Vanguard Group Inc. now owns 18,482,011 shares of the company’s stock worth $175,209,000 after acquiring an additional 907,305 shares during the last quarter. 80.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Angelic Gibson sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $13.00, for a total value of $520,000.00. Following the completion of the transaction, the insider now directly owns 430,606 shares in the company, valued at $5,597,878. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Ryan Stahl sold 4,217 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.43, for a total value of $52,417.31. Following the transaction, the insider now owns 384,588 shares of the company’s stock, valued at $4,780,428.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Angelic Gibson sold 40,000 shares of AvidXchange stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $13.00, for a total value of $520,000.00. Following the sale, the insider now directly owns 430,606 shares of the company’s stock, valued at approximately $5,597,878. The disclosure for this sale can be found here. Insiders have sold a total of 3,010,167 shares of company stock worth $39,077,190 over the last ninety days. Company insiders own 10.30% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Research Report on AvidXchange
AvidXchange Trading Up 2.0 %
Shares of AVDX stock opened at $11.89 on Thursday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -51.70 and a beta of 1.04. AvidXchange Holdings, Inc. has a 1 year low of $6.88 and a 1 year 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. The company’s fifty day simple moving average is $12.37 and its two-hundred day simple moving average is $11.30.
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.
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