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.
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.
COPYRIGHT VIOLATION WARNING: “Mitsubishi UFJ Securities Holdings Co. Ltd. Invests $89,000 in Avalara Inc (NYSE:AVLR) Stock” was originally published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://dakotafinancialnews.com/2019/06/12/mitsubishi-ufj-securities-holdings-co-ltd-invests-89000-in-avalara-inc-nyseavlr-stock.html.
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?
Want to see what other hedge funds are holding AVLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avalara Inc (NYSE:AVLR).
Receive News & Ratings for Avalara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avalara and related companies with MarketBeat.com's FREE daily email newsletter.