Avalara, Inc. (NYSE:AVLR) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC trimmed its holdings in Avalara, Inc. (NYSE:AVLR) by 5.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 7,980 shares of the company’s stock after selling 475 shares during the quarter. Oak Ridge Investments LLC’s holdings in Avalara were worth $1,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AVLR. TCI Wealth Advisors Inc. increased its position in Avalara by 91.8% during the first quarter. TCI Wealth Advisors Inc. now owns 186 shares of the company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Avalara during the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd acquired a new stake in Avalara during the fourth quarter worth about $59,000. Invictus RG acquired a new stake in Avalara during the fourth quarter worth about $87,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Avalara during the fourth quarter worth about $99,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

NYSE AVLR opened at $135.50 on Friday. The company has a 50 day simple moving average of $135.10. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of -180.67 and a beta of 0.70. Avalara, Inc. has a one year low of $99.03 and a one year high of $185.37.

Avalara (NYSE:AVLR) last issued its earnings results on Thursday, May 6th. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.20. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $143.12 million. Avalara had a negative net margin of 11.77% and a negative return on equity of 5.43%. The firm’s revenue was up 37.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. Sell-side analysts expect that Avalara, Inc. will post -0.94 earnings per share for the current fiscal year.

In other Avalara news, insider Amit Mathradas sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $135.11, for a total transaction of $145,108.14. Following the sale, the insider now owns 102,752 shares of the company’s stock, valued at $13,882,822.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ross Tennenbaum sold 13,094 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $136.57, for a total transaction of $1,788,247.58. Following the sale, the insider now directly owns 79,134 shares in the company, valued at approximately $10,807,330.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,429 shares of company stock worth $11,178,407. 2.60% of the stock is owned by corporate insiders.

AVLR has been the subject of several research analyst reports. Mizuho lowered their target price on shares of Avalara from $220.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 7th. Raymond James lowered their target price on shares of Avalara from $205.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 7th. Piper Sandler increased their target price on shares of Avalara from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, February 11th. Morgan Stanley increased their target price on shares of Avalara from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, May 7th. Finally, Needham & Company LLC increased their target price on shares of Avalara from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 11th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $181.31.

Avalara Company Profile

Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company 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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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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