Avalara, Inc. (NYSE:AVLR) Shares Sold by Next Century Growth Investors LLC

Next Century Growth Investors LLC trimmed its position in shares of Avalara, Inc. (NYSE:AVLR) by 12.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,100 shares of the company’s stock after selling 2,213 shares during the quarter. Next Century Growth Investors LLC’s holdings in Avalara were worth $2,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AVLR. FMR LLC grew its position in Avalara by 158.5% during the second quarter. FMR LLC now owns 736,864 shares of the company’s stock worth $119,225,000 after buying an additional 451,803 shares during the period. Franklin Resources Inc. grew its position in Avalara by 12.6% during the first quarter. Franklin Resources Inc. now owns 3,219,980 shares of the company’s stock worth $429,642,000 after buying an additional 360,554 shares during the period. Bamco Inc. NY grew its position in Avalara by 180.4% during the second quarter. Bamco Inc. NY now owns 508,982 shares of the company’s stock worth $82,353,000 after buying an additional 327,455 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Avalara in the second quarter valued at about $48,693,000. Finally, Fred Alger Management LLC lifted its holdings in shares of Avalara by 10.9% in the first quarter. Fred Alger Management LLC now owns 2,210,288 shares of the company’s stock valued at $294,919,000 after purchasing an additional 217,048 shares in the last quarter. Institutional investors own 88.99% of the company’s stock.

In other Avalara news, Director Rajeev Singh sold 5,910 shares of the company’s stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $170.00, for a total transaction of $1,004,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott M. Mcfarlane sold 30,000 shares of the stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $164.65, for a total value of $4,939,500.00. The disclosure for this sale can be found here. Insiders sold a total of 78,626 shares of company stock worth $13,658,133 in the last quarter. 21.10% of the stock is owned by corporate insiders.

AVLR has been the topic of several recent research reports. Piper Sandler upped their price target on shares of Avalara from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Zacks Investment Research raised shares of Avalara from a “sell” rating to a “hold” rating in a report on Wednesday, September 22nd. Canaccord Genuity upped their price objective on shares of Avalara from $165.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 6th. They noted that the move was a valuation call. Berenberg Bank initiated coverage on shares of Avalara in a research note on Tuesday, August 24th. They set a “buy” rating and a $200.00 price objective on the stock. Finally, Mizuho upped their price objective 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. Two research analysts have rated the stock with a hold rating and eleven have issued 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 price target of $199.13.

Shares of Avalara stock traded up $2.45 on Thursday, reaching $171.88. 1,842 shares of the company were exchanged, compared to its average volume of 570,981. The company’s 50-day moving average is $176.45 and its two-hundred day moving average is $155.95. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of -180.24 and a beta of 0.73. Avalara, Inc. has a 1-year low of $117.33 and a 1-year high of $191.67.

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