Robeco Institutional Asset Management BV takes a new position in Avalara, Inc. (NYSE: AVLR)

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Robeco Institutional Asset Management BV has acquired a new stake in Avalara, Inc. (NYSE: AVLRGet a rating) in Q1, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 525 shares of the company, valued at approximately $52,000.

Several other large investors have also recently increased or reduced their stake in the company. Allspring Global Investments Holdings LLC acquired a new position in Avalara in Q4 worth approximately $238,704,000. State Street Corp increased its stake in Avalara by 1.2% in the fourth quarter. State Street Corp now owns 1,744,903 shares of the company valued at $225,284,000 after acquiring 20,661 additional shares last quarter. Riverbridge Partners LLC increased its stake in Avalara to 95.5% in Q1. Riverbridge Partners LLC now owns 1,500,831 shares of the company valued at $149,348,000 after acquiring an additional 733,168 shares last quarter. William Blair Investment Management LLC increased its stake in Avalara by 18.2% in the fourth quarter. William Blair Investment Management LLC now owns 1,469,819 shares of the company valued at $189,768,000 after acquiring an additional 226,160 shares last quarter. Finally, Geode Capital Management LLC increased its stake in Avalara by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,039,246 shares of the company valued at $133,979,000 after acquiring 30,290 additional shares last quarter. Institutional investors and hedge funds hold 92.20% of the company’s shares.

Insider Trading at Avalara

In related news, insider Scott M. Mcfarlane sold 20,000 shares of the company in a transaction on Monday, July 11. The stock was sold at an average price of $85.07, for a total transaction of $1,701,400.00. Following the sale, the insider now owns 584,892 shares of the company, valued at approximately $49,756,762.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. In other Avalara news, an insider Ross Tennenbaum sold 744 shares of Avalara in a trade dated Friday, May 6. The stock was sold at an average price of $69.26, for a total value of $51,529.44. Following the sale, the insider now owns 85,350 shares of the company, valued at approximately $5,911,341. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Additionally, insider Scott M. Mcfarlane sold 20,000 shares of Avalara in a trade dated Monday, July 11. The shares were sold at an average price of $85.07, for a total value of $1,701,400.00. Following the completion of the sale, the insider now directly owns 584,892 shares of the company, valued at approximately $49,756,762.44. Disclosure of this sale can be found here. Insiders have sold 60,744 shares of the company worth $4,985,329 in the past three months. Insiders hold 21.10% of the shares of the company.

Analyst upgrades and downgrades

AVLR has been the subject of several 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 Friday, May 6 report. Morgan Stanley lowered its target price on Avalara from $216.00 to $130.00 and set an “overweight” rating for the company in a Thursday, March 24 report. Bank of America upgraded Avalara from a “buy” rating to a “neutral” rating and lowered its target price for the stock from $140.00 to $100.00 in a Monday, April 25 report. Mizuho lowered its target price on Avalara from $160.00 to $110.00 in a Friday, May 6 report. Finally, Goldman Sachs Group lowered its price target on Avalara from $123.00 to $109.00 and set a “buy” rating for the company in a report released Thursday. One financial analyst gave the stock a hold rating and fifteen gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.47.

Avalara stock up 3.9%

NYSE: AVLR opened at $84.53 on Friday. Avalara, Inc. has a 12-month low of $66.39 and a 12-month high of $191.67. The company has a quick ratio of 3.15, a current ratio of 3.15 and a leverage ratio of 0.93. The company has a market capitalization of $7.43 billion, a P/E ratio of -57.50 and a beta of 0.99. The stock’s fifty-day simple moving average is $78.94 and its 200-day simple moving average is $91.40.

Avalara (NYSE: AVLRGet a rating) last released its quarterly results on Thursday, May 5. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.08. Avalara had a negative return on equity of 9.62% and a negative net margin of 17.04%. The company posted revenue of $204.53 million for the quarter, versus analyst estimates of $198.07 million. During the same period last year, the company achieved EPS of ($0.30). The company’s revenue increased 33.2% year over year. Equity research analysts expect Avalara, Inc. to post -1.38 earnings per share for the current year.

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.

See also

Institutional ownership by quarter for Avalara (NYSE:AVLR)



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