Next Century Growth Investors LLC Sells 2,213 Shares of Avalara, Inc. (NYSE:AVLR)

Next Century Growth Investors LLC decreased its position in Avalara, Inc. (NYSE:AVLR) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,100 shares of the company’s stock after selling 2,213 shares during the quarter. Next Century Growth Investors LLC’s holdings in Avalara were worth $2,604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVLR. FMR LLC grew its stake in shares of Avalara by 158.5% in the 2nd quarter. FMR LLC now owns 736,864 shares of the company’s stock valued at $119,225,000 after buying an additional 451,803 shares in the last quarter. Franklin Resources Inc. boosted its position 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 acquiring an additional 360,554 shares during the period. Bamco Inc. NY boosted its position in shares of Avalara by 180.4% in the second quarter. Bamco Inc. NY now owns 508,982 shares of the company’s stock valued at $82,353,000 after acquiring an additional 327,455 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Avalara in the second quarter valued at approximately $48,693,000. Finally, Fred Alger Management LLC boosted its position 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 acquiring an additional 217,048 shares during the period. 88.99% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on the company. Berenberg Bank assumed coverage on Avalara in a research note on Tuesday, August 24th. They issued a “buy” rating and a $200.00 target price for the company. TheStreet upgraded shares of Avalara from a “d+” rating to a “c” rating in a research report on Monday, June 28th. Mizuho increased their price objective on shares of Avalara from $180.00 to $220.00 and gave the company a “buy” rating in a report on Friday, August 6th. Stifel Nicolaus increased their price objective on shares of Avalara from $160.00 to $200.00 and gave the company a “buy” rating in a report on Friday, August 6th. Finally, Canaccord Genuity upped their target price on shares of Avalara from $165.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 6th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Avalara presently has an average rating of “Buy” and an average price target of $199.13.

In related news, Director Rajeev Singh sold 700 shares of the stock in a transaction on Monday, July 26th. The stock was sold at an average price of $170.02, for a total value of $119,014.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott M. Mcfarlane sold 30,000 shares of the stock in a transaction on Monday, October 11th. The shares were sold at an average price of $164.65, for a total value of $4,939,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,626 shares of company stock valued at $13,658,133. 21.10% of the stock is owned by corporate insiders.

NYSE:AVLR traded up $2.45 during trading hours on Thursday, reaching $171.88. 1,842 shares of the company were exchanged, compared to its average volume of 570,981. The company has a market capitalization of $14.84 billion, a P/E ratio of -180.24 and a beta of 0.73. Avalara, Inc. has a 1-year low of $117.33 and a 1-year high of $191.67. The business has a 50 day moving average of $176.45 and a 200 day moving average of $155.95.

Avalara (NYSE:AVLR) last announced its quarterly earnings results on Wednesday, August 4th. The company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.28. Avalara had a negative return on equity of 5.87% and a negative net margin of 13.67%. The company had revenue of $169.07 million during the quarter, compared to analysts’ expectations of $154.10 million. On average, equities research analysts forecast that Avalara, Inc. will post -1.11 EPS for the current year.

Avalara Company Profile

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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