Avalara, Inc. (NYSE:AVLR) Shares Sold by BlackRock Inc.

BlackRock Inc. cut its stake in shares of Avalara, Inc. (NYSE:AVLR) by 0.4% in the third quarter, HoldingsChannel.com reports. The fund owned 6,895,527 shares of the company’s stock after selling 24,890 shares during the period. BlackRock Inc. owned approximately 0.08% of Avalara worth $1,205,133,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AVLR. Franklin Resources Inc. raised its position in shares of Avalara by 4.5% in the second quarter. Franklin Resources Inc. now owns 3,366,169 shares of the company’s stock valued at $544,647,000 after buying an additional 146,189 shares during the last quarter. Morgan Stanley boosted its stake in Avalara by 2.3% during the second quarter. Morgan Stanley now owns 1,882,808 shares of the company’s stock worth $304,637,000 after buying an additional 42,894 shares during the period. State Street Corp boosted its stake in Avalara by 14.2% during the second quarter. State Street Corp now owns 1,727,386 shares of the company’s stock worth $279,491,000 after buying an additional 214,856 shares during the period. Invesco Ltd. boosted its stake in shares of Avalara by 17.4% in the second quarter. Invesco Ltd. now owns 1,720,491 shares of the company’s stock valued at $278,376,000 after purchasing an additional 255,496 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Avalara by 20.0% in the second quarter. Wells Fargo & Company MN now owns 1,451,817 shares of the company’s stock valued at $234,904,000 after purchasing an additional 241,773 shares during the period. Institutional investors own 90.30% of the company’s stock.

Avalara stock opened at $109.43 on Friday. The stock has a market cap of $9.51 billion, a P/E ratio of -93.53 and a beta of 0.72. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $137.50 and a 200-day moving average of $160.44. Avalara, Inc. has a 52 week low of $104.14 and a 52 week high of $191.67.

Avalara (NYSE:AVLR) last posted its quarterly earnings results on Thursday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. Avalara had a negative return on equity of 7.30% and a negative net margin of 15.60%. The business had revenue of $181.17 million for the quarter, compared to analyst estimates of $170.34 million. During the same period in the prior year, the company posted ($0.13) EPS. The business’s revenue was up 41.7% compared to the same quarter last year. As a group, equities analysts predict that Avalara, Inc. will post -1.12 earnings per share for the current fiscal year.

In related news, insider Alesia Lee Pinney sold 7,217 shares of the firm’s stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $181.66, for a total transaction of $1,311,040.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amit Mathradas sold 1,074 shares of the firm’s stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $120.00, for a total value of $128,880.00. The disclosure for this sale can be found here. Insiders have sold 58,519 shares of company stock worth $8,547,198 over the last three months. Corporate insiders own 21.10% of the company’s stock.

AVLR has been the subject of several recent research reports. Piper Sandler lowered their price objective on shares of Avalara from $215.00 to $200.00 in a research note on Monday, January 10th. JPMorgan Chase & Co. raised shares of Avalara from a “neutral” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Tuesday, December 14th. The Goldman Sachs Group began coverage on shares of Avalara in a report on Monday, December 13th. They issued a “buy” rating and a $200.00 target price on the stock. Zacks Investment Research raised shares of Avalara from a “sell” rating to a “hold” rating in a report on Wednesday, September 22nd. Finally, TheStreet lowered shares of Avalara from a “c-” rating to a “d+” rating in a research report on Friday, January 7th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Avalara has an average rating of “Buy” and an average target price of $199.25.

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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