Forsta AP Fonden Acquires Shares of 13,700 Avalara, Inc. (NYSE:AVLR)

Forsta AP Fonden acquired a new stake in Avalara, Inc. (NYSE:AVLR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,700 shares of the company’s stock, valued at approximately $2,217,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVLR. JPMorgan Chase & Co. raised its holdings in shares of Avalara by 400.1% in the first quarter. JPMorgan Chase & Co. now owns 1,490,624 shares of the company’s stock valued at $198,894,000 after buying an additional 1,192,584 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Avalara by 16.4% in the first quarter. BlackRock Inc. now owns 7,297,098 shares of the company’s stock valued at $973,651,000 after buying an additional 1,028,690 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Avalara by 12.6% in the first quarter. Franklin Resources Inc. now owns 3,219,980 shares of the company’s stock valued at $429,642,000 after buying an additional 360,554 shares during the last quarter. FMR LLC raised its holdings in shares of Avalara by 128.3% in the first quarter. FMR LLC now owns 404,634 shares of the company’s stock valued at $22,575,000 after buying an additional 227,359 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Avalara by 10.9% in the first quarter. Fred Alger Management LLC now owns 2,210,288 shares of the company’s stock valued at $294,919,000 after buying an additional 217,048 shares during the last quarter. Institutional investors own 88.99% of the company’s stock.

In related news, insider Alesia Lee Pinney sold 1,637 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $161.36, for a total transaction of $264,146.32. Following the sale, the insider now owns 99,397 shares in the company, valued at $16,038,699.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott M. Mcfarlane sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $158.54, for a total transaction of $4,756,200.00. Following the sale, the insider now owns 586,668 shares in the company, valued at approximately $93,010,344.72. The disclosure for this sale can be found here. Insiders sold 75,835 shares of company stock worth $12,998,484 over the last quarter. Company insiders own 21.10% of the company’s stock.

Several research analysts recently issued reports on AVLR shares. Evercore ISI increased their price target on shares of Avalara from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, July 21st. Berenberg Bank started coverage on shares of Avalara in a report on Tuesday, August 24th. They set a “buy” rating and a $200.00 price target for the company. Raymond James increased their price target on shares of Avalara from $155.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, August 6th. Mizuho increased their price target on shares of Avalara from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, August 6th. Finally, TheStreet raised shares of Avalara from a “d+” rating to a “c” rating in a report on Monday, June 28th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $199.13.

Avalara stock traded down $3.20 during mid-day trading on Thursday, reaching $186.68. The company had a trading volume of 2,055 shares, compared to its average volume of 733,904. Avalara, Inc. has a 1 year low of $117.33 and a 1 year high of $191.67. The company has a market capitalization of $16.11 billion, a P/E ratio of -202.00 and a beta of 0.71. The stock’s 50-day simple moving average is $173.30 and its 200-day simple moving average is $152.23.

Avalara (NYSE:AVLR) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.28. The business had revenue of $169.07 million for the quarter, compared to analyst estimates of $154.10 million. Avalara had a negative net margin of 13.67% and a negative return on equity of 5.87%. On average, analysts anticipate that Avalara, Inc. will post -1.11 earnings per share for the current fiscal year.

About Avalara

Avalara, Inc engages in the provision of cloud-based solutions. The firm focuses on taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Its products include AvaTax excise, AvaTax communications, returns excise, trustfile, CertCapture, and avalara licensing.

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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