Lisanti Capital Growth LLC Invests $1.31 Million in AvidXchange Holdings, Inc. (NASDAQ:AVDX)

Lisanti Capital Growth LLC purchased a new stake in AvidXchange Holdings, Inc. (NASDAQ:AVDX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 105,920 shares of the company’s stock, valued at approximately $1,312,000.

A number of other large investors have also added to or reduced their stakes in AVDX. National Bank of Canada FI acquired a new stake in shares of AvidXchange during the 4th quarter worth $54,000. Highland Capital Management LLC bought a new stake in shares of AvidXchange during the 4th quarter worth approximately $145,000. Legato Capital Management LLC bought a new position in AvidXchange in the fourth quarter valued at approximately $168,000. Cornerstone Investment Partners LLC acquired a new position in AvidXchange during the fourth quarter valued at approximately $178,000. Finally, SG Americas Securities LLC bought a new stake in AvidXchange during the third quarter worth $159,000. Institutional investors and hedge funds own 80.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BMO Capital Markets boosted their price target on AvidXchange from $11.00 to $13.00 and gave the stock a “market perform” rating in a report on Thursday, February 29th. Susquehanna increased their target price on shares of AvidXchange from $15.00 to $16.00 and gave the stock a “positive” rating in a report on Thursday, February 29th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $11.50 price target (down from $13.00) on shares of AvidXchange in a report on Monday, April 15th. Keefe, Bruyette & Woods started coverage on shares of AvidXchange in a research note on Tuesday, April 9th. They issued a “market perform” rating and a $13.50 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of AvidXchange from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.14.

AvidXchange Trading Down 1.2 %

AVDX stock traded down $0.15 during trading on Tuesday, hitting $11.99. The company had a trading volume of 2,203,641 shares, compared to its average volume of 1,785,807. The stock has a market cap of $2.48 billion, a PE ratio of -52.13 and a beta of 1.07. AvidXchange Holdings, Inc. has a one year low of $6.88 and a one year high of $13.56. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $12.37 and a 200-day moving average of $11.38.

Insider Transactions at AvidXchange

In other news, Director Matthew C. Harris sold 2,500,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $13.03, for a total value of $32,575,000.00. Following the transaction, the director now directly owns 9,139,898 shares of the company’s stock, valued at approximately $119,092,870.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Matthew C. Harris sold 2,500,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $13.03, for a total transaction of $32,575,000.00. Following the transaction, the director now directly owns 9,139,898 shares of the company’s stock, valued at $119,092,870.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan Stahl sold 4,217 shares of AvidXchange stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.43, for a total transaction of $52,417.31. Following the completion of the sale, the insider now directly owns 384,588 shares of the company’s stock, valued at $4,780,428.84. The disclosure for this sale can be found here. Insiders sold a total of 3,010,167 shares of company stock worth $39,077,190 over the last three months. 10.30% of the stock is owned by company insiders.

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.