IFM Investors Pty Ltd closed its position in Avalara, Inc. (NYSE: AVLR – Get a rating) by 18.8% in the first quarter, Participation channel reports. The company held 13,712 shares of the company after acquiring an additional 2,174 shares during the period. IFM Investors Pty Ltd’s holdings in Avalara were worth $1,364,000 when it was last filed with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently changed their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Avalara during Q4 valued at approximately $238,704,000. State Street Corp increased its position in Avalara by 1.2% during the fourth quarter. State Street Corp now owns 1,744,903 shares of the company worth $225,284,000 after acquiring an additional 20,661 shares during the period. William Blair Investment Management LLC increased its position in Avalara by 18.2% during the fourth quarter. William Blair Investment Management LLC now owns 1,469,819 shares of the company worth $189,768,000 after acquiring an additional 226,160 shares during the period. Geode Capital Management LLC increased its position in Avalara by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,039,246 shares of the company worth $133,979,000 after acquiring an additional 30,290 shares during the period. Finally, Alliancebernstein LP increased its position in Avalara by 5.6% during the 4th quarter. Alliancebernstein LP now owns 954,411 shares of the company worth $123,224,000 after acquiring an additional 50,283 shares during the period. 92.20% of the shares are held by hedge funds and other institutional investors.
In other Avalara news, insider Scott M. Mcfarlane sold 20,000 shares of the company in a trade on Friday, June 10. The stock was sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the transaction, the insider now owns 584,892 shares of the company, valued at $47,738,885.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, insider Ross Tennenbaum sold 744 shares of the company in a trade on Friday, May 6. The stock was sold at an average price of $69.26, for a total value of $51,529.44. Following the transaction, the insider now directly owns 85,350 shares of the company, valued at approximately $5,911,341. Disclosure of this sale can be found here. Insiders have sold 64,419 shares of the company valued at $5,509,543 over the past three months. 2.60% of the shares are currently held by insiders of the company.
NYSE AVLR opened at $71.44 on Friday. Avalara, Inc. has a 1-year low of $66.39 and a 1-year high of $191.67. The company has a market capitalization of $6.28 billion, a P/E ratio of -48.60 and a beta of 0.93. The company has a 50-day moving average price of $78.30 and a 200-day moving average price of $95.12. The company has a debt ratio of 0.93, a current ratio of 3.15 and a quick ratio of 3.15.
Avalara (NYSE: AVLR – Get a rating) last released its quarterly results on Thursday, May 5. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.08. The company posted revenue of $204.53 million in the quarter, versus a consensus estimate of $198.07 million. Avalara had a negative return on equity of 9.62% and a negative net margin of 17.04%. Avalara revenue increased 33.2% compared to the same quarter last year. In the same quarter last year, the company posted ($0.30) earnings per share. On average, research analysts expect Avalara, Inc. to post -1.38 earnings per share for the current fiscal year.
AVLR has been the subject of a number of recent research reports. Canaccord Genuity Group cut its price target on Avalara from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, May 6. Morgan Stanley cut its target price on Avalara from $216.00 to $130.00 and set an “overweight” rating for the company in a Thursday, March 24 research note. Stifel Nicolaus cut his target price on Avalara from $135.00 to $115.00 and set a “buy” rating for the company in a Monday, March 21 research note. Mizuho reduced its target price on Avalara from $160.00 to $110.00 in a Friday, May 6 research note. Finally, Bank of America downgraded Avalara from a “buy” rating to a “neutral” rating and reduced its target price for the stock from $140.00 to $100.00 in a Monday, April 25 research note. . One analyst rated the stock with a hold rating and fifteen gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $154.53.
Profile of Avalara (Get a rating)
Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transactional tax compliance worldwide. The company offers a suite of compliance solutions that enable businesses to tackle the complexity of transactional tax compliance; process transactions in real time; produce detailed records of transaction tax determinations; and reduce errors, audit exposure and total transaction tax compliance costs.
Get news and reviews for Avalara Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Avalara and related companies with MarketBeat.com’s FREE daily email newsletter.