Landscape Capital Management L.L.C. cut its position in Avalara Inc (NYSE:AVLR) by 64.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,813 shares of the company’s stock after selling 60,337 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Avalara were worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Avalara in the second quarter valued at $80,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Avalara by 209.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock valued at $100,000 after buying an additional 2,180 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Avalara by 7,090.1% in the first quarter. Janus Henderson Group PLC now owns 1,588,160 shares of the company’s stock valued at $88,603,000 after buying an additional 1,566,072 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Avalara in the first quarter valued at $2,232,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in shares of Avalara in the first quarter valued at $4,356,000. 80.07% of the stock is owned by institutional investors and hedge funds.
In other news, insider Scott M. Mcfarlane sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $81.95, for a total value of $983,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alesia Lee Pinney sold 1,077 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.45, for a total value of $86,644.65. The disclosure for this sale can be found here. Insiders sold a total of 8,870,468 shares of company stock valued at $618,374,420 over the last three months. Company insiders own 21.10% of the company’s stock.
Avalara (NYSE:AVLR) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. Avalara had a negative return on equity of 23.05% and a negative net margin of 20.13%. The business had revenue of $91.30 million during the quarter, compared to the consensus estimate of $84.63 million. During the same period in the previous year, the business earned ($0.19) EPS. The business’s quarterly revenue was up 42.9% on a year-over-year basis. As a group, research analysts predict that Avalara Inc will post -0.65 EPS for the current fiscal year.
A number of brokerages have recently weighed in on AVLR. JMP Securities lifted their price objective on Avalara from $49.00 to $67.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. First Analysis began coverage on Avalara in a research note on Friday, July 26th. They issued a “strong-buy” rating for the company. KeyCorp reaffirmed an “overweight” rating and issued a $101.00 price objective (up from $74.00) on shares of Avalara in a research note on Thursday, August 8th. Stifel Nicolaus raised Avalara from a “hold” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $100.00 in a research note on Thursday, August 8th. Finally, Needham & Company LLC boosted their target price on Avalara from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Avalara has a consensus rating of “Buy” and an average price target of $82.44.
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.
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