Clarius Group LLC Decreases Stake in Avalara Inc (NYSE:AVLR)

Clarius Group LLC reduced its position in Avalara Inc (NYSE:AVLR) by 50.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,355 shares of the company’s stock after selling 5,350 shares during the period. Clarius Group LLC’s holdings in Avalara were worth $360,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AVLR. MetLife Investment Advisors LLC raised its stake in shares of Avalara by 213.1% in the 1st quarter. MetLife Investment Advisors LLC now owns 12,062 shares of the company’s stock valued at $673,000 after purchasing an additional 8,209 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Avalara by 170.7% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 8,722 shares of the company’s stock valued at $486,000 after purchasing an additional 5,500 shares in the last quarter. FMR LLC raised its stake in shares of Avalara by 128.3% in the 1st quarter. FMR LLC now owns 404,634 shares of the company’s stock valued at $22,575,000 after purchasing an additional 227,359 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Avalara in the 1st quarter valued at about $3,424,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Avalara in the 2nd quarter valued at about $477,000. 78.51% of the stock is owned by institutional investors.

AVLR traded up $3.71 on Thursday, hitting $69.26. 6,690 shares of the company’s stock were exchanged, compared to its average volume of 1,028,933. The firm has a market cap of $5.13 billion, a PE ratio of -64.38 and a beta of 0.51. Avalara Inc has a twelve month low of $28.09 and a twelve month high of $94.31. The stock has a fifty day moving average of $72.76 and a two-hundred day moving average of $72.94.

Avalara (NYSE:AVLR) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. Avalara had a negative net margin of 20.13% and a negative return on equity of 23.05%. The firm had revenue of $91.30 million during the quarter, compared to analysts’ expectations of $84.63 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. Avalara’s quarterly revenue was up 42.9% on a year-over-year basis. On average, equities analysts expect that Avalara Inc will post -0.64 EPS for the current fiscal year.

AVLR has been the topic of a number of recent analyst reports. Stephens set a $105.00 target price on shares of Avalara and gave the company a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Avalara from $78.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Canaccord Genuity assumed coverage on shares of Avalara in a research note on Monday, August 26th. They set a “buy” rating and a $100.00 price objective on the stock. Bank of America reiterated a “buy” rating and set a $100.00 price objective (up previously from $98.00) on shares of Avalara in a research note on Thursday, August 8th. Finally, KeyCorp set a $101.00 price objective on shares of Avalara and gave the stock a “buy” rating in a research note on Sunday, September 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Avalara has an average rating of “Buy” and an average price target of $85.03.

In other Avalara news, insider Scott M. Mcfarlane sold 12,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $74.03, for a total value of $888,360.00. Also, Director Chelsea R. Stoner sold 14,287 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $87.20, for a total transaction of $1,245,826.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 907,782 shares of company stock valued at $76,837,264. 21.10% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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