Avalara, Inc. (NYSE:AVLR) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its position in shares of Avalara, Inc. (NYSE:AVLRGet Rating) by 48.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 610 shares of the company’s stock after buying an additional 199 shares during the quarter. Fifth Third Bancorp’s holdings in Avalara were worth $43,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVLR. Tobam acquired a new stake in shares of Avalara during the 2nd quarter worth approximately $32,000. Ellevest Inc. raised its position in shares of Avalara by 2,475.0% during the 2nd quarter. Ellevest Inc. now owns 515 shares of the company’s stock worth $36,000 after purchasing an additional 495 shares during the period. Lazard Asset Management LLC raised its position in shares of Avalara by 6,583.3% during the 1st quarter. Lazard Asset Management LLC now owns 401 shares of the company’s stock worth $39,000 after purchasing an additional 395 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Avalara during the 1st quarter worth approximately $44,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Avalara during the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 90.68% of the company’s stock.

Insider Activity

In other news, insider Scott M. Mcfarlane sold 20,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $92.27, for a total transaction of $1,845,400.00. Following the completion of the sale, the insider now owns 583,644 shares in the company, valued at approximately $53,852,831.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 60,000 shares of company stock worth $5,532,600. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AVLR has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on Avalara from $123.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Berenberg Bank lowered Avalara from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Evercore ISI decreased their price objective on Avalara to $93.50 in a report on Monday, August 15th. Raymond James lowered Avalara from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th. Finally, Mizuho lowered Avalara to a “neutral” rating and set a $93.50 price objective for the company. in a report on Tuesday, August 9th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Avalara presently has an average rating of “Hold” and a consensus price target of $120.08.

Avalara Stock Performance

Shares of NYSE AVLR opened at $93.48 on Monday. The stock has a fifty day moving average price of $92.61 and a two-hundred day moving average price of $86.20. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.18. The firm has a market cap of $8.28 billion, a P/E ratio of -52.52 and a beta of 0.99. Avalara, Inc. has a 1 year low of $66.39 and a 1 year high of $188.43.

Avalara (NYSE:AVLRGet Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.16). The firm had revenue of $208.60 million for the quarter, compared to the consensus estimate of $209.19 million. Avalara had a negative net margin of 19.76% and a negative return on equity of 12.44%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.25) earnings per share. Research analysts forecast that Avalara, Inc. will post -1.57 EPS for the current fiscal year.

About Avalara

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Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company 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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