Avalara, Inc. (NYSE:AVLR) Shares Sold by Barton Investment Management

Barton Investment Management reduced its stake in shares of Avalara, Inc. (NYSE:AVLRGet Rating) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,398 shares of the company’s stock after selling 423 shares during the quarter. Avalara comprises about 4.2% of Barton Investment Management’s investment portfolio, making the stock its 9th largest holding. Barton Investment Management owned 0.34% of Avalara worth $20,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Precision Wealth Strategies LLC grew its stake in Avalara by 12.0% during the 2nd quarter. Precision Wealth Strategies LLC now owns 4,183 shares of the company’s stock valued at $346,000 after acquiring an additional 449 shares in the last quarter. Blue Zone Wealth Advisors LLC boosted its position in Avalara by 2.3% during the second quarter. Blue Zone Wealth Advisors LLC now owns 21,946 shares of the company’s stock worth $1,549,000 after purchasing an additional 497 shares during the period. Archford Capital Strategies LLC boosted its position in Avalara by 0.8% during the second quarter. Archford Capital Strategies LLC now owns 21,611 shares of the company’s stock worth $1,526,000 after purchasing an additional 166 shares during the period. Riverbridge Partners LLC boosted its position in Avalara by 8.4% during the second quarter. Riverbridge Partners LLC now owns 1,627,197 shares of the company’s stock worth $114,880,000 after purchasing an additional 126,366 shares during the period. Finally, Capital Investment Services of America Inc. boosted its position in Avalara by 127.4% during the second quarter. Capital Investment Services of America Inc. now owns 112,547 shares of the company’s stock worth $7,946,000 after purchasing an additional 63,064 shares during the period. 90.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Avalara

In other Avalara news, insider Scott M. Mcfarlane sold 20,000 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $92.27, for a total value of $1,845,400.00. Following the transaction, the insider now owns 583,644 shares of the company’s stock, valued at $53,852,831.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $5,383,200. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVLR has been the subject of a number of research analyst reports. JMP Securities lowered Avalara from an “outperform” rating to a “market perform” rating in a report on Monday, August 29th. Evercore ISI cut their target price on Avalara to $93.50 in a research note on Monday, August 15th. The Goldman Sachs Group cut their target price on Avalara from $123.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Berenberg Bank lowered Avalara from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Morgan Stanley lowered Avalara from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $111.00 to $93.50 in a research note on Tuesday, August 16th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $120.08.

Avalara Trading Down 0.1 %

Avalara stock traded down $0.07 during mid-day trading on Friday, hitting $92.18. The stock had a trading volume of 184,854 shares, compared to its average volume of 4,511,533. Avalara, Inc. has a 12 month low of $66.39 and a 12 month high of $190.21. The stock has a 50-day simple moving average of $90.98 and a two-hundred day simple moving average of $86.47. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $8.16 billion, a PE ratio of -51.78 and a beta of 1.05.

Avalara (NYSE:AVLRGet Rating) last released its earnings results on Monday, August 8th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.16). Avalara had a negative net margin of 19.76% and a negative return on equity of 12.44%. The company had revenue of $208.60 million during the quarter, compared to analyst estimates of $209.19 million. During the same period in the previous year, the company posted ($0.25) EPS. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Avalara, Inc. will post -1.34 EPS for the current year.

About Avalara

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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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