Barclays PLC Has $2.32 Million Stock Holdings in AvidXchange Holdings, Inc. (NASDAQ:AVDX)

Barclays PLC lifted its position in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX) by 239.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 285,768 shares of the company’s stock after buying an additional 201,679 shares during the quarter. Barclays PLC’s holdings in AvidXchange were worth $2,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in AvidXchange in the 3rd quarter worth about $37,000. Allspring Global Investments Holdings LLC bought a new stake in shares of AvidXchange in the third quarter valued at approximately $38,000. CWM LLC lifted its position in shares of AvidXchange by 7,259.8% during the 3rd quarter. CWM LLC now owns 6,771 shares of the company’s stock valued at $55,000 after acquiring an additional 6,679 shares during the period. nVerses Capital LLC acquired a new stake in AvidXchange during the second quarter worth about $66,000. Finally, Y Intercept Hong Kong Ltd bought a new position in AvidXchange in the third quarter valued at approximately $86,000. 80.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ryan Stahl sold 7,427 shares of AvidXchange stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $8.58, for a total transaction of $63,723.66. Following the sale, the insider now directly owns 369,603 shares in the company, valued at approximately $3,171,193.74. This trade represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Hausman sold 25,000 shares of the firm’s 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 sale, the director now directly owns 2,112,232 shares of the company’s stock, valued at approximately $23,762,610. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,120 shares of company stock valued at $980,407. Corporate insiders own 10.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on AvidXchange from $10.00 to $12.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. Piper Sandler lifted their target price on AvidXchange from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. BTIG Research initiated coverage on shares of AvidXchange in a research note on Wednesday, December 11th. They issued a “buy” rating and a $14.00 price objective on the stock. Bank of America decreased their target price on AvidXchange from $12.00 to $8.00 and set an “underperform” rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group upped their price objective on shares of AvidXchange from $10.00 to $10.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.68.

AvidXchange Stock Performance

NASDAQ AVDX opened at $10.46 on Thursday. AvidXchange Holdings, Inc. has a 1 year low of $7.38 and a 1 year high of $13.56. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 517.50 and a beta of 1.20. The company has a fifty day moving average price of $10.15 and a 200-day moving average price of $9.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.32 and a quick ratio of 1.32.

AvidXchange 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.