Canton Hathaway LLC bought a new position in shares of Avalara Inc (NYSE:AVLR) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,359 shares of the company’s stock, valued at approximately $131,000.
A number of other institutional investors have also modified their holdings of AVLR. Legal & General Group Plc bought a new stake in shares of Avalara in the 3rd quarter valued at about $46,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Avalara in the 4th quarter valued at about $71,000. JPMorgan Chase & Co. boosted its holdings in shares of Avalara by 127.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,121 shares of the company’s stock valued at $109,000 after buying an additional 1,751 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Avalara by 209.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock valued at $100,000 after buying an additional 2,180 shares in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of Avalara in the 4th quarter valued at about $126,000. Institutional investors own 70.64% of the company’s stock.
Shares of Avalara stock traded up $0.38 during midday trading on Wednesday, hitting $55.85. The company had a trading volume of 528,402 shares, compared to its average volume of 892,162. The firm has a market capitalization of $3.85 billion and a P/E ratio of -51.71. Avalara Inc has a 12-month low of $28.09 and a 12-month high of $59.40.
Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, February 12th. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $71.24 million. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, analysts anticipate that Avalara Inc will post -0.86 EPS for the current year.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Avalara from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Avalara from $38.00 to $64.00 and gave the company a “positive” rating in a research report on Wednesday, February 13th. JMP Securities increased their price objective on shares of Avalara from $40.00 to $49.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 13th. KeyCorp reaffirmed an “overweight” rating and issued a $54.00 price objective (up from $48.00) on shares of Avalara in a research report on Tuesday, February 12th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Avalara in a research report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Avalara has an average rating of “Buy” and an average target price of $49.00.
In other Avalara news, Director Benjamin J. Goux sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.26, for a total transaction of $479,340.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel E. Manning sold 21,875 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $56.00, for a total transaction of $1,225,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,196,449 shares of company stock valued at $496,391,861 over the last three months.
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Avalara Company 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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