Vanguard Group Inc. Has $1.22 Billion Holdings in Avalara, Inc. (NYSE:AVLR)

Vanguard Group Inc. boosted its stake in Avalara, Inc. (NYSE:AVLR) by 0.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,560,083 shares of the company’s stock after purchasing an additional 1,215 shares during the quarter. Vanguard Group Inc. owned about 8.76% of Avalara worth $1,223,222,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its position in Avalara by 128.3% in the first quarter. FMR LLC now owns 404,634 shares of the company’s stock valued at $22,575,000 after acquiring an additional 227,359 shares during the last quarter. First Trust Advisors LP bought a new position in Avalara in the first quarter valued at about $3,424,000. Russell Investments Group Ltd. grew its position in Avalara by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 38,632 shares of the company’s stock valued at $5,144,000 after acquiring an additional 2,682 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Avalara by 1,069.1% during the first quarter. Rockefeller Capital Management L.P. now owns 2,572 shares of the company’s stock worth $343,000 after purchasing an additional 2,352 shares during the last quarter. Finally, CIBC World Markets Inc. grew its holdings in shares of Avalara by 55.7% during the first quarter. CIBC World Markets Inc. now owns 3,675 shares of the company’s stock worth $490,000 after purchasing an additional 1,315 shares during the last quarter. 88.99% of the stock is owned by institutional investors and hedge funds.

In other news, Director Rajeev Singh sold 700 shares of the company’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $170.02, for a total transaction of $119,014.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Amit Mathradas sold 4,428 shares of the company’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $168.77, for a total value of $747,313.56. Following the transaction, the insider now directly owns 96,043 shares in the company, valued at $16,209,177.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,626 shares of company stock worth $13,658,133. Insiders own 21.10% of the company’s stock.

Several analysts have recently weighed in on AVLR shares. Evercore ISI boosted their price target on Avalara from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, July 21st. TheStreet upgraded Avalara from a “d+” rating to a “c” rating in a report on Monday, June 28th. Mizuho boosted their price target on Avalara from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, August 6th. Zacks Investment Research upgraded Avalara from a “sell” rating to a “hold” rating in a report on Wednesday, September 22nd. Finally, Piper Sandler boosted their price target on Avalara from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, August 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $199.13.

Shares of AVLR opened at $169.43 on Thursday. Avalara, Inc. has a 52-week low of $117.33 and a 52-week high of $191.67. The business’s 50 day moving average price is $176.45 and its two-hundred day moving average price is $155.95. The firm has a market cap of $14.63 billion, a PE ratio of -180.24 and a beta of 0.73.

Avalara (NYSE:AVLR) last issued its quarterly earnings results on Wednesday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.28. Avalara had a negative return on equity of 5.87% and a negative net margin of 13.67%. The firm had revenue of $169.07 million for the quarter, compared to analyst estimates of $154.10 million. As a group, equities research analysts expect that Avalara, Inc. will post -1.11 EPS for the current fiscal year.

About Avalara

Avalara, Inc engages in the provision of cloud-based solutions. The firm focuses on taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Its products include AvaTax excise, AvaTax communications, returns excise, trustfile, CertCapture, and avalara licensing.

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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