Alliancebernstein L.P. Increases Stock Position in Avalara, Inc. (NYSE:AVLR)

Alliancebernstein L.P. increased its position in shares of Avalara, Inc. (NYSE:AVLR) by 27.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 904,128 shares of the company’s stock after buying an additional 196,372 shares during the period. Alliancebernstein L.P. owned 1.05% of Avalara worth $158,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Avalara by 0.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 10,260 shares of the company’s stock worth $1,793,000 after buying an additional 58 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG lifted its holdings in Avalara by 1.5% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 5,770 shares of the company’s stock valued at $934,000 after purchasing an additional 88 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Avalara by 7.5% during the third quarter. Raymond James Trust N.A. now owns 1,368 shares of the company’s stock valued at $239,000 after purchasing an additional 96 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in Avalara by 2.4% during the third quarter. Valmark Advisers Inc. now owns 4,085 shares of the company’s stock valued at $714,000 after purchasing an additional 96 shares in the last quarter. Finally, Symmetry Partners LLC lifted its holdings in Avalara by 1.8% during the third quarter. Symmetry Partners LLC now owns 5,518 shares of the company’s stock valued at $928,000 after purchasing an additional 100 shares in the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Avalara stock opened at $109.43 on Friday. Avalara, Inc. has a 12-month low of $104.14 and a 12-month high of $191.67. The stock has a market cap of $9.51 billion, a P/E ratio of -93.53 and a beta of 0.72. The company has a 50-day moving average price of $137.50 and a 200 day moving average price of $160.44. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.93.

Avalara (NYSE:AVLR) last announced its earnings results on Thursday, November 4th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The company had revenue of $181.17 million during the quarter, compared to analyst estimates of $170.34 million. Avalara had a negative net margin of 15.60% and a negative return on equity of 7.30%. Avalara’s revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, analysts forecast that Avalara, Inc. will post -1.12 EPS for the current year.

In other news, insider Amit Mathradas sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $120.00, for a total value of $128,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel E. Manning sold 7,482 shares of the firm’s stock in a transaction that occurred on Tuesday, December 7th. The shares were sold at an average price of $147.30, for a total transaction of $1,102,098.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,519 shares of company stock valued at $8,547,198. 21.10% of the stock is currently owned by insiders.

Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Avalara from $215.00 to $200.00 in a report on Monday, January 10th. The Goldman Sachs Group initiated coverage on shares of Avalara in a research report on Monday, December 13th. They issued a “buy” rating and a $200.00 target price for the company. Mizuho reiterated a “buy” rating and issued a $219.00 target price on shares of Avalara in a research report on Friday, November 5th. TheStreet cut shares of Avalara from a “c-” rating to a “d+” rating in a research report on Friday, January 7th. Finally, JPMorgan Chase & Co. upgraded shares of Avalara from a “neutral” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Tuesday, December 14th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $199.25.

Avalara Company Profile

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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