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Charlotte, NC – Angelic Gibson, the Chief Information Officer and Senior Vice President of AvidXchange Holdings , Inc. (NASDAQ:AVDX), has recently sold shares in the company, according to a filing with the Securities and Exchange Commission. On February 28, 2025, Gibson executed multiple sales totaling 23,592 shares of common stock at an average price of $7.594 per share, amounting to approximately $179,157. The transaction comes as the stock trades near its 52-week low of $6.89, with InvestingPro data showing the company maintains a strong gross margin of 72.26%.
These transactions were part of a "sell to cover" arrangement designed to meet tax withholding obligations related to the vesting and settlement of restricted stock units. In addition to the sales, Gibson also acquired 15,603 shares of common stock through the vesting of restricted stock units, which converted on a one-for-one basis.
Following these transactions, Gibson now directly owns 720,308 shares of AvidXchange common stock.
In other recent news, AvidXChange Holdings has released its fourth-quarter results, which were largely above expectations. However, the company’s fiscal year 2025 guidance did not meet analyst projections, with revenue forecasts between $453 million and $460 million, falling short of BTIG and consensus estimates. Consequently, several financial firms have adjusted their ratings and price targets for AvidXChange. Barclays (LON:BARC) downgraded the stock from Overweight to Equal Weight, setting a new price target of $8, citing macroeconomic challenges and uncertainties in growth prospects. Piper Sandler also revised its price target to $8 while maintaining a Neutral rating, pointing to a challenging economic environment and a lower transaction retention rate.
Similarly, Keefe, Bruyette & Woods reduced their price target to $8, maintaining a Market Perform rating due to below-normal retention rates and macroeconomic uncertainties. KeyBanc Capital Markets downgraded the stock from Overweight to Sector Weight, highlighting concerns over growth strategy and macroeconomic headwinds. Despite these cautious outlooks, AvidXChange’s management remains optimistic about new partnerships and potential revenue increases through initiatives like Payment Accelerator 2.0. BTIG, while lowering its price target to $11, maintained a Buy rating, emphasizing AvidXChange’s strong position in the B2B payments sector and potential for sustained growth. These recent developments reflect a cautious but hopeful stance among analysts regarding AvidXChange’s future performance amidst ongoing economic challenges.
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