Candriam Luxembourg S.C.A. Makes New Investment in Avalara Inc (NYSE:AVLR)
Candriam Luxembourg S.C.A. acquired a new position in Avalara Inc (NYSE:AVLR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,510 shares of the company’s stock, valued at approximately $600,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eudaimonia Partners LLC bought a new position in Avalara in the first quarter worth $30,000. Asset Management One Co. Ltd. bought a new position in Avalara in the first quarter worth $38,000. Price Wealth LLC bought a new position in Avalara in the second quarter worth $47,000. Toth Financial Advisory Corp bought a new position in Avalara in the first quarter worth $71,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Avalara during the second quarter valued at $106,000. Institutional investors and hedge funds own 85.42% of the company’s stock.
In other news, Director Chelsea R. Stoner sold 5,000 shares of Avalara stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $98.31, for a total transaction of $491,550.00. Following the transaction, the director now directly owns 71,168 shares of the company’s stock, valued at approximately $6,996,526.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Ingram sold 103,509 shares of Avalara stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $97.01, for a total value of $10,041,408.09. Following the transaction, the director now directly owns 97,470 shares in the company, valued at $9,455,564.70. The disclosure for this sale can be found here. Insiders sold 346,591 shares of company stock worth $36,577,958 over the last three months. Insiders own 21.10% of the company’s stock.
Avalara (NYSE:AVLR) last announced its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. The business had revenue of $111.44 million for the quarter, compared to analysts’ expectations of $108.24 million. Avalara had a negative return on equity of 9.88% and a negative net margin of 12.99%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. As a group, equities analysts anticipate that Avalara Inc will post -0.75 EPS for the current year.
Several brokerages have recently weighed in on AVLR. Raymond James raised their price target on Avalara from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, May 8th. JMP Securities increased their price objective on Avalara from $106.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, June 24th. Zacks Investment Research raised Avalara from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research report on Wednesday, July 8th. Stifel Nicolaus increased their price objective on Avalara from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Mizuho increased their price objective on Avalara from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $123.46.
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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