Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Avalara, Inc. (NYSE:AVLR – Get Rating) by 5.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,319 shares of the company’s stock after selling 2,380 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Avalara were worth $4,112,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in AVLR. Nissay Asset Management Corp Japan ADV boosted its holdings in Avalara by 1.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 9,049 shares of the company’s stock valued at $1,168,000 after purchasing an additional 134 shares in the last quarter. Xponance Inc. boosted its holdings in Avalara by 1.4% in the first quarter. Xponance Inc. now owns 9,888 shares of the company’s stock valued at $984,000 after purchasing an additional 135 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Avalara by 1.1% in the fourth quarter. Cetera Investment Advisers now owns 13,405 shares of the company’s stock valued at $1,731,000 after purchasing an additional 149 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in Avalara by 86.8% in the first quarter. Koshinski Asset Management Inc. now owns 353 shares of the company’s stock valued at $35,000 after purchasing an additional 164 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Avalara by 1.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,441 shares of the company’s stock valued at $1,348,000 after purchasing an additional 181 shares in the last quarter. 90.68% of the stock is owned by institutional investors and hedge funds.
Avalara Price Performance
Avalara stock opened at $91.98 on Friday. The business has a 50 day simple moving average of $86.95 and a 200-day simple moving average of $87.09. Avalara, Inc. has a 12 month low of $66.39 and a 12 month high of $191.67. The stock has a market capitalization of $8.12 billion, a PE ratio of -51.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.18 and a quick ratio of 3.18.
Avalara (NYSE:AVLR – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. Avalara had a negative return on equity of 12.44% and a negative net margin of 19.76%. The firm had revenue of $208.60 million for the quarter, compared to analyst estimates of $209.19 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. Avalara’s quarterly revenue was up 23.4% on a year-over-year basis. Equities analysts predict that Avalara, Inc. will post -1.38 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on AVLR shares. The Goldman Sachs Group lowered their price target on Avalara from $123.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Mizuho cut Avalara to a “neutral” rating and set a $93.50 price objective for the company. in a research note on Tuesday, August 9th. Berenberg Bank cut Avalara from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Piper Sandler cut Avalara from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $118.00 to $93.50 in a research note on Monday, August 8th. Finally, Raymond James cut Avalara from an “outperform” rating to a “market perform” rating in a research note on Monday, August 15th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $120.08.
Insider Buying and Selling
In related news, insider Scott M. Mcfarlane sold 20,000 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $85.07, for a total transaction of $1,701,400.00. Following the transaction, the insider now owns 584,892 shares of the company’s stock, valued at $49,756,762.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 60,000 shares of company stock valued at $5,170,200 over the last quarter. Company insiders own 2.40% of the company’s stock.
About Avalara
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Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company offers a suite of compliance solutions that enable businesses to address the complexity of transaction 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.
See Also
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