BlackRock Inc. Cuts Position in Avalara, Inc. (NYSE:AVLR)

BlackRock Inc. trimmed its holdings in shares of Avalara, Inc. (NYSE:AVLR) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,895,527 shares of the company’s stock after selling 24,890 shares during the period. BlackRock Inc. owned about 7.99% of Avalara worth $1,205,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Berman Capital Advisors LLC boosted its position in Avalara by 1,328.6% during the second quarter. Berman Capital Advisors LLC now owns 200 shares of the company’s stock valued at $31,000 after buying an additional 186 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Avalara during the third quarter valued at about $35,000. Liberty Wealth Management LLC boosted its position in Avalara by 36,306.3% during the second quarter. Liberty Wealth Management LLC now owns 5,825 shares of the company’s stock valued at $36,000 after buying an additional 5,809 shares during the period. Koshinski Asset Management Inc. purchased a new stake in Avalara during the third quarter valued at about $36,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Avalara by 22.1% during the second quarter. O Shaughnessy Asset Management LLC now owns 1,006 shares of the company’s stock valued at $163,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

NYSE:AVLR opened at $109.43 on Friday. The company’s 50 day moving average price is $137.50 and its 200-day moving average price is $160.44. Avalara, Inc. has a 52 week low of $104.14 and a 52 week high of $191.67. 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 issued its earnings results on Thursday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. Avalara had a negative net margin of 15.60% and a negative return on equity of 7.30%. The company had revenue of $181.17 million for the quarter, compared to analysts’ expectations of $170.34 million. During the same quarter last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. Sell-side analysts expect that Avalara, Inc. will post -1.12 EPS for the current year.

In other Avalara news, insider Alesia Lee Pinney sold 7,217 shares of the stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $181.66, for a total value of $1,311,040.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Amit Mathradas sold 4,428 shares of the stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $170.32, for a total transaction of $754,176.96. The disclosure for this sale can be found here. Insiders sold 58,519 shares of company stock worth $8,547,198 in the last 90 days. 21.10% of the stock is currently owned by corporate insiders.

AVLR has been the subject of several analyst reports. Mizuho restated a “buy” rating and set a $219.00 price target on shares of Avalara in a research report on Friday, November 5th. Zacks Investment Research raised shares of Avalara from a “sell” rating to a “hold” rating in a research note on Wednesday, September 22nd. The Goldman Sachs Group assumed coverage on shares of Avalara in a research note on Monday, December 13th. They set a “buy” rating and a $200.00 price objective for the company. TheStreet downgraded shares of Avalara from a “c-” rating to a “d+” rating in a research note on Friday, January 7th. Finally, JPMorgan Chase & Co. raised shares of Avalara from a “neutral” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Tuesday, December 14th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target 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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