Deutsche Bank AG lifted its position in shares of Avalara, Inc. (NYSE:AVLR – Get Rating) by 43.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 565,789 shares of the company’s stock after buying an additional 172,348 shares during the quarter. Deutsche Bank AG owned about 0.64% of Avalara worth $39,947,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC increased its position in shares of Avalara by 6,583.3% during the first quarter. Lazard Asset Management LLC now owns 401 shares of the company’s stock worth $39,000 after buying an additional 395 shares during the period. Advisors Asset Management Inc. bought a new position in Avalara during the first quarter worth $44,000. Tobam bought a new position in Avalara during the second quarter worth $32,000. Ellevest Inc. boosted its stake in Avalara by 2,475.0% during the second quarter. Ellevest Inc. now owns 515 shares of the company’s stock worth $36,000 after acquiring an additional 495 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Avalara by 119.1% during the first quarter. Cullen Frost Bankers Inc. now owns 561 shares of the company’s stock worth $56,000 after acquiring an additional 305 shares in the last quarter. 90.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Raymond James lowered shares of Avalara from an “outperform” rating to a “market perform” rating in a research note on Monday, August 15th. Morgan Stanley downgraded shares of Avalara from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $111.00 to $93.50 in a research note on Tuesday, August 16th. Evercore ISI cut their price objective on shares of Avalara to $93.50 in a research report on Monday, August 15th. BMO Capital Markets lowered shares of Avalara from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Finally, Berenberg Bank lowered shares of Avalara from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $120.08.
Avalara Stock Performance
Insider Buying and Selling at Avalara
In other news, insider Scott M. Mcfarlane sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $92.27, for a total value of $1,845,400.00. Following the completion of the sale, the insider now directly owns 583,644 shares in the company, valued at approximately $53,852,831.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.
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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