Fmr LLC Invests $11.65 Million in Avalara Inc (AVLR)

Fmr LLC bought a new stake in shares of Avalara Inc (NYSE:AVLR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 218,203 shares of the company’s stock, valued at approximately $11,645,000. Fmr LLC owned about 0.33% of Avalara at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Mercantile Trust Co. bought a new position in shares of Avalara during the second quarter valued at approximately $101,000. TD Asset Management Inc. bought a new position in shares of Avalara during the second quarter valued at approximately $547,000. Dean Capital Investments Management LLC bought a new position in shares of Avalara during the second quarter valued at approximately $713,000. First Allied Advisory Services Inc. bought a new position in shares of Avalara during the second quarter valued at approximately $999,000. Finally, American Century Companies Inc. bought a new position in shares of Avalara during the second quarter valued at approximately $2,669,000. 68.40% of the stock is owned by institutional investors.

Several research firms have recently commented on AVLR. JPMorgan Chase & Co. began coverage on Avalara in a report on Tuesday, July 10th. They set a “neutral” rating and a $50.00 target price for the company. JMP Securities assumed coverage on Avalara in a report on Tuesday, July 10th. They issued a “market perform” rating for the company. Stifel Nicolaus assumed coverage on Avalara in a report on Tuesday, July 10th. They issued a “hold” rating and a $44.00 price objective for the company. Bank of America assumed coverage on Avalara in a report on Tuesday, July 10th. They issued a “neutral” rating and a $55.00 price objective for the company. Finally, Zacks Investment Research lowered Avalara from a “buy” rating to a “hold” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.60.

Shares of AVLR stock opened at $33.77 on Monday. Avalara Inc has a 12-month low of $32.10 and a 12-month high of $59.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.41 and a quick ratio of 1.41.

Avalara (NYSE:AVLR) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $61.47 million. Avalara’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, sell-side analysts anticipate that Avalara Inc will post -0.7 EPS for the current fiscal year.

Avalara Profile

Avalara, Inc provides transaction tax compliance cloud-based solutions 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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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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