AvidXchange’s chief people officer sells $612,738 in stock

CHARLOTTE, NC—Todd Alan Cunningham, the Chief People Officer and Senior Vice President of AvidXchange Holdings , Inc. (NASDAQ:AVDX), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Cunningham sold 62,585 shares of common stock on June 10, 2025, at an average price of $9.7905 per share. This transaction amounted to a total value of approximately $612,738. The sale comes as InvestingPro data shows AVDX trading near its current Fair Value, with technical indicators suggesting overbought conditions.

Following the sale, Cunningham retains 443,410 shares in the company. The sale was executed in multiple trades, with prices ranging from $9.79 to $9.795 per share. The weighted average sale price was reported in the filing. The transaction occurs as AvidXchange, with a market capitalization of $2.02 billion, has shown strong revenue growth of 10.46% over the last twelve months. For deeper insights into insider transactions and comprehensive financial analysis, InvestingPro subscribers can access the detailed Pro Research Report, available for over 1,400 US stocks.

The transaction was conducted directly by Cunningham, as noted in the filing, and was signed on his behalf by Ryan Stahl, Attorney-in-Fact. The stock has demonstrated strong momentum over the past three months, despite trading at an elevated P/E multiple of 1,088x.

In other recent news, AvidXchange Holdings, Inc. has agreed to be acquired by TPG in partnership with Corpay for approximately $2.2 billion. The acquisition will result in AvidXchange becoming a privately held entity, offering a 22% premium over its May 6, 2025 closing price. This transaction, expected to close in the fourth quarter of 2025, has received unanimous approval from the independent members of AvidXchange’s Board of Directors. In addition to the acquisition, AvidXchange has introduced new AI tools aimed at enhancing invoice management. These updates are designed to improve efficiency and decision-making by integrating artificial intelligence into the accounts payable workflow. Meanwhile, Keefe, Bruyette & Woods maintained a Market Perform rating for AvidXchange, with a price target of $8.00, amidst reports of the company’s potential sale. The analysts noted that the company is exploring sales options with Financial Technology Partners but emphasized the uncertainty of a deal materializing. AvidXchange’s recent developments reflect its ongoing efforts to enhance its services and strategic positioning in the financial technology sector.

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