Deutsche Bank AG Buys 115,416 Shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX)

Deutsche Bank AG lifted its position in shares of AvidXchange Holdings, Inc. (NASDAQ:AVDX - Free Report) by 11.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,103,646 shares of the company's stock after acquiring an additional 115,416 shares during the quarter. Deutsche Bank AG owned approximately 0.54% of AvidXchange worth $11,412,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Xponance Inc. lifted its holdings in shares of AvidXchange by 9.2% during the 4th quarter. Xponance Inc. now owns 12,459 shares of the company's stock worth $129,000 after acquiring an additional 1,045 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of AvidXchange by 6.2% during the fourth quarter. Captrust Financial Advisors now owns 18,434 shares of the company's stock valued at $191,000 after buying an additional 1,084 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of AvidXchange by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,182 shares of the company's stock valued at $188,000 after purchasing an additional 1,155 shares in the last quarter. Blue Trust Inc. boosted its position in shares of AvidXchange by 90.1% during the fourth quarter. Blue Trust Inc. now owns 2,697 shares of the company's stock valued at $28,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in AvidXchange by 1.0% during the fourth quarter. Rhumbline Advisers now owns 234,738 shares of the company's stock worth $2,427,000 after acquiring an additional 2,391 shares in the last quarter. Institutional investors own 80.58% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael Praeger sold 58,881 shares of the stock in a transaction dated Friday, February 28th. The shares were 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 owns 11,164,737 shares in the company, valued at $84,740,353.83. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joel Wilhite sold 32,203 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 $244,420.77. Following the completion of the sale, the insider now directly owns 843 shares of the company's stock, valued at $6,398.37. This represents a 97.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,866 shares of company stock worth $955,323 in the last quarter. 11.10% of the stock is currently owned by corporate insiders.

AvidXchange Stock Down 0.1%

AvidXchange stock traded down $0.01 during mid-day trading on Monday, hitting $9.72. 3,739,445 shares of the company's stock were exchanged, compared to its average volume of 2,488,591. The stock has a market cap of $2.01 billion, a P/E ratio of 243.00 and a beta of 1.14. The stock has a 50 day moving average of $8.28 and a two-hundred day moving average of $9.46. AvidXchange Holdings, Inc. has a 1-year low of $6.61 and a 1-year high of $12.93. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11.

AvidXchange (NASDAQ:AVDX - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). AvidXchange had a negative net margin of 0.23% and a positive return on equity of 0.74%. The firm had revenue of $115.44 million during the quarter, compared to analyst estimates of $114.98 million. As a group, analysts anticipate that AvidXchange Holdings, Inc. will post 0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BTIG Research cut AvidXchange from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. KeyCorp cut shares of AvidXchange from an "overweight" rating to a "sector weight" rating in a research note on Thursday, February 27th. Wells Fargo & Company lifted their price objective on shares of AvidXchange from $8.00 to $10.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of AvidXchange from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their price target on AvidXchange from $9.50 to $7.00 and set a "sell" rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, AvidXchange has an average rating of "Hold" and an average price target of $10.30.

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.