Evolution Wealth Advisors LLC Takes Position in Avalara Inc (NYSE:AVLR)

Evolution Wealth Advisors LLC bought a new stake in Avalara Inc (NYSE:AVLR) in the third quarter, Holdings Channel reports. The institutional investor bought 351 shares of the company’s stock, valued at approximately $45,000.

Several other large investors have also made changes to their positions in AVLR. DNB Asset Management AS purchased a new position in Avalara during the third quarter worth about $1,378,000. Envestnet Asset Management Inc. raised its holdings in Avalara by 459.2% during the third quarter. Envestnet Asset Management Inc. now owns 82,070 shares of the company’s stock worth $10,451,000 after purchasing an additional 67,394 shares in the last quarter. Riverbridge Partners LLC purchased a new position in Avalara during the third quarter worth about $29,665,000. Assenagon Asset Management S.A. purchased a new position in Avalara during the third quarter worth about $358,000. Finally, State of Alaska Department of Revenue purchased a new position in Avalara in the third quarter valued at about $63,000. 90.41% of the stock is owned by institutional investors and hedge funds.

Shares of AVLR stock opened at $157.55 on Friday. The firm has a market cap of $12.54 billion, a P/E ratio of -242.38 and a beta of 0.79. Avalara Inc has a 1-year low of $55.50 and a 1-year high of $160.42. The firm has a fifty day moving average of $130.84 and a two-hundred day moving average of $114.48.

Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.14. The company had revenue of $116.50 million during the quarter, compared to analyst estimates of $110.36 million. Avalara had a negative net margin of 11.54% and a negative return on equity of 9.02%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the business earned ($0.03) EPS. Equities research analysts predict that Avalara Inc will post -0.72 earnings per share for the current fiscal year.

A number of research analysts have issued reports on AVLR shares. Needham & Company LLC increased their target price on shares of Avalara from $116.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Raymond James increased their price target on shares of Avalara from $110.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Stifel Nicolaus increased their price target on shares of Avalara from $100.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Zacks Investment Research lowered shares of Avalara from a “hold” rating to a “sell” rating in a research report on Tuesday, October 6th. Finally, JMP Securities raised their target price on shares of Avalara from $106.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.64.

In other Avalara news, insider Scott M. Mcfarlane sold 15,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $118.79, for a total transaction of $1,781,850.00. Following the completion of the transaction, the insider now directly owns 844,223 shares of the company’s stock, valued at approximately $100,285,250.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Ingram sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $120.96, for a total transaction of $3,024,000.00. Following the transaction, the director now directly owns 26,731 shares of the company’s stock, valued at $3,233,381.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,431 shares of company stock valued at $16,843,622. 21.10% of the stock is owned by company insiders.

Avalara 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.

Read More: G-20

Want to see what other hedge funds are holding AVLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avalara Inc (NYSE:AVLR).

Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

Receive News & Ratings for Avalara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avalara and related companies with MarketBeat.com's FREE daily email newsletter.