Owls Nest Partners IA LLC Acquires 35,530 Shares of Avalara, Inc. (NYSE:AVLR)

Owls Nest Partners IA LLC increased its holdings in shares of Avalara, Inc. (NYSE:AVLR) by 30.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,030 shares of the company’s stock after buying an additional 35,530 shares during the quarter. Avalara accounts for approximately 11.3% of Owls Nest Partners IA LLC’s holdings, making the stock its 3rd largest holding. Owls Nest Partners IA LLC owned 0.18% of Avalara worth $24,598,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AVLR. Franklin Resources Inc. increased its holdings in Avalara by 4.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,366,169 shares of the company’s stock worth $544,647,000 after purchasing an additional 146,189 shares in the last quarter. Fred Alger Management LLC increased its holdings in Avalara by 10.9% during the 1st quarter. Fred Alger Management LLC now owns 2,210,288 shares of the company’s stock worth $294,919,000 after purchasing an additional 217,048 shares in the last quarter. Geode Capital Management LLC increased its holdings in Avalara by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 1,053,346 shares of the company’s stock worth $140,377,000 after purchasing an additional 36,246 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Avalara by 12.5% during the 1st quarter. Ameriprise Financial Inc. now owns 938,199 shares of the company’s stock worth $125,183,000 after purchasing an additional 104,085 shares in the last quarter. Finally, FMR LLC increased its holdings in Avalara by 158.5% during the 2nd quarter. FMR LLC now owns 736,864 shares of the company’s stock worth $119,225,000 after purchasing an additional 451,803 shares in the last quarter. 88.99% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Scott M. Mcfarlane sold 30,000 shares of the company’s stock in a transaction dated Monday, October 11th. The shares were sold at an average price of $164.65, for a total value of $4,939,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rajeev Singh sold 5,910 shares of the stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $170.00, for a total transaction of $1,004,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,626 shares of company stock valued at $13,658,133. Company insiders own 21.10% of the company’s stock.

AVLR has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Avalara from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 6th. Berenberg Bank began coverage on shares of Avalara in a research report on Tuesday, August 24th. They issued a “buy” rating and a $200.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Avalara from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, August 6th. Raymond James lifted their price objective on shares of Avalara from $155.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Finally, Evercore ISI lifted their price objective on shares of Avalara from $180.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 21st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $199.13.

Avalara stock traded up $3.77 during trading hours on Thursday, reaching $173.20. The stock had a trading volume of 4,572 shares, compared to its average volume of 570,981. The stock has a market cap of $14.95 billion, a PE ratio of -180.24 and a beta of 0.73. Avalara, Inc. has a 52 week low of $117.33 and a 52 week high of $191.67. The company has a fifty day simple moving average of $176.45 and a 200-day simple moving average of $155.95.

Avalara (NYSE:AVLR) last issued its earnings results on Wednesday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.28. Avalara had a negative net margin of 13.67% and a negative return on equity of 5.87%. The business had revenue of $169.07 million during the quarter, compared to analysts’ expectations of $154.10 million. Research analysts predict that Avalara, Inc. will post -1.11 EPS for the current year.

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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