Mitsubishi UFJ Securities Holdings Co. Ltd. Invests $89,000 in Avalara Inc (NYSE:AVLR) Stock

Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of Avalara Inc (NYSE:AVLR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,600 shares of the company’s stock, valued at approximately $89,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVLR. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Avalara by 409.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,600,165 shares of the company’s stock worth $145,064,000 after purchasing an additional 2,090,001 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Avalara during the first quarter worth $101,595,000. Janus Henderson Group PLC boosted its holdings in Avalara by 7,090.1% during the first quarter. Janus Henderson Group PLC now owns 1,588,160 shares of the company’s stock worth $88,603,000 after purchasing an additional 1,566,072 shares during the last quarter. BlackRock Inc. boosted its holdings in Avalara by 81.0% during the first quarter. BlackRock Inc. now owns 1,994,830 shares of the company’s stock worth $111,292,000 after purchasing an additional 892,636 shares during the last quarter. Finally, Tensile Capital Management LLC boosted its holdings in Avalara by 213.6% during the fourth quarter. Tensile Capital Management LLC now owns 846,741 shares of the company’s stock worth $26,376,000 after purchasing an additional 576,741 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

AVLR stock traded down $0.85 during trading hours on Wednesday, reaching $66.65. The stock had a trading volume of 11,815 shares, compared to its average volume of 995,899. The stock has a market cap of $4.89 billion and a P/E ratio of -62.29. Avalara Inc has a fifty-two week low of $28.09 and a fifty-two week high of $75.33.



Avalara (NYSE:AVLR) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $78.67 million. Avalara had a negative net margin of 23.56% and a negative return on equity of 32.45%. The company’s quarterly revenue was up 38.4% on a year-over-year basis. On average, research analysts expect that Avalara Inc will post -0.55 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Avalara from a “sell” rating to a “hold” rating in a report on Monday, April 15th. KeyCorp increased their target price on shares of Avalara from $54.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. JMP Securities increased their target price on shares of Avalara from $49.00 to $67.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Needham & Company LLC assumed coverage on shares of Avalara in a report on Thursday, April 11th. They set a “buy” rating and a $64.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Avalara presently has an average rating of “Buy” and a consensus price target of $63.38.

In other Avalara news, insider Alesia Lee Pinney sold 43,942 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $72.95, for a total value of $3,205,568.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin J. Goux sold 9,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $71.51, for a total transaction of $643,590.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,136,817 shares of company stock valued at $495,009,669.

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Avalara Profile

Avalara, Inc provides cloud-based solutions for transaction tax compliance worldwide. It 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.

Further Reading: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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