Cathie Wood Buys $3.4M Worth Of Shares In This Payments Software Firm — Also Increases Exposure To Iridium Stock

On Tuesday, Cathie Wood-led Ark Invest made several trades, the most prominent of which was a significant purchase of shares in AvidXchange Holdings Inc AVDX. This move comes amidst a series of upcoming investor conferences that the payments processing software firm is set to participate in.

The AvidXchange Trade

Ark Invest purchased 274,416 shares of AvidXchange through the Ark Fintech Innovation ETF ARKF. The purchase was valued at $3.4 million at the closing price of $12.45.

AvidXchange is a leading provider of accounts payable automation software and payment solutions for middle-market businesses.

This move is particularly noteworthy given the recent analyst ratings for the company, which have seen an average price target increase over the past three months.

See Also: Ark Invest Sees Cruise, Waymo Expansion Pave Way For Tesla’s Robotaxi

Other Key Trades:

• Ark Invest bought 3,988 shares of Pinterest Inc PINS through the Fintech Innovation ETF.
• ARK Genomic Revolution ETF ARKG sold 100 shares of Iovance Biotherapeutics Inc IOVA.
• Wood bought 19,963 shares of Iridium Communications Inc IRDM through ARK Autonomous Technology & Robotics ETF ARKQ.
• She also sold 14,339 shares of Intuitive Surgical Inc ISRG through ARKQ.

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