Wedbush Securities Inc. acquired a new stake in the shares of Avalara, Inc. (NYSE: AVLR – Get a rating) in the first quarter, according to its most recent Form 13F filed with the Securities & Exchange Commission. The company acquired 2,381 shares of the company, valued at approximately $237,000.
Other hedge funds and other institutional investors have also recently changed their holdings in the company. National Bank of Canada FI bought a new position in shares of Avalara during the fourth quarter at a value of $39,000. Pinebridge Investments LP bought a new position in Avalara stock in the fourth quarter worth about $39,000. Fifth Third Bancorp bought a new position in Avalara stock in the first quarter, valued at around $41,000. CVA Family Office LLC bought a new position in Avalara stock in the fourth quarter worth about $48,000. Finally, UMB Bank NA MO bought a new position in Avalara stock in the fourth quarter worth approximately $143,000. 92.20% of the shares are held by institutional investors.
In other Avalara news, an insider Ross Tennenbaum sold 744 shares of the company in a transaction that took place 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 completion of the transaction, the insider now directly owns 85,350 shares of the company, valued at $5,911,341. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, insider Scott M. Mcfarlane sold 20,000 shares of the company in a transaction that took place on Tuesday, May 10. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider now owns 584,892 shares of the company, valued at $46,791,360. Disclosure of this sale can be found here. During the last quarter, insiders sold 60,744 shares of the company valued at $5,143,329. 2.60% of the shares are held by insiders.
A number of research analysts have recently published reports on AVLR shares. Stifel Nicolaus cut his price target on Avalara from $135.00 to $115.00 and set a “buy” rating for the company in a Monday, March 21 report. Bank of America downgraded Avalara from a “buy” rating to a “neutral” rating and lowered its price target for the company from $140.00 to $100.00 in a Monday, April 25 report. Morgan Stanley cut its target price on Avalara shares from $216.00 to $130.00 and set an “overweight” rating on the stock in a Thursday, March 24 research report. Mizuho lowered its price target on Avalara shares from $160.00 to $110.00 in a Friday, May 6 research report. Finally, Canaccord Genuity Group cut its price target on Avalara shares from $140.00 to $100.00 and set a “buy” rating on the stock in a Friday, May 6 report. One financial analyst gave the stock a hold rating and fifteen gave the stock a buy rating. Based on data from MarketBeat.com, Avalara has an average rating of “Moderate Buy” and an average target price of $154.53.
Shares of Avalara Stock opened at $73.54 on Thursday. Avalara, Inc. has a 1-year low of $66.39 and a 1-year high of $191.67. The company has a 50-day moving average of $77.92 and a two-hundred-day moving average of $94.11. The company has a market capitalization of $6.46 billion, a P/E ratio of -50.03 and a beta of 0.99. 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 earnings data on Thursday, May 5. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analyst consensus estimates 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’s quarterly revenue increased 33.2% year over year. During the same period last year, the company made ($0.30) earnings per share. On average, stock analysts expect Avalara, Inc. to post EPS of -1.38 for the current fiscal year.
About 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.
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