Highland Capital Management LLC lowered its position in shares of Avalara, Inc. (NYSE:AVLR – Get Rating) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,638 shares of the company’s stock after selling 800 shares during the period. Highland Capital Management LLC’s holdings in Avalara were worth $822,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Echo Street Capital Management LLC grew its stake in shares of Avalara by 65.0% during the first quarter. Echo Street Capital Management LLC now owns 1,996,875 shares of the company’s stock worth $198,709,000 after acquiring an additional 786,996 shares during the last quarter. Riverbridge Partners LLC grew its stake in shares of Avalara by 95.5% during the first quarter. Riverbridge Partners LLC now owns 1,500,831 shares of the company’s stock worth $149,348,000 after acquiring an additional 733,168 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Avalara by 51.3% during the first quarter. Bank of America Corp DE now owns 1,995,750 shares of the company’s stock worth $198,597,000 after acquiring an additional 677,022 shares during the last quarter. Deccan Value Investors L.P. purchased a new stake in shares of Avalara during the fourth quarter worth about $85,617,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Avalara during the first quarter worth about $50,188,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. William Blair downgraded Avalara from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 24th. Needham & Company LLC downgraded Avalara to a “hold” rating in a report on Monday, August 15th. Raymond James downgraded Avalara from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th. Morgan Stanley downgraded Avalara from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $111.00 to $93.50 in a report on Tuesday, August 16th. Finally, JMP Securities cut Avalara from an “outperform” rating to a “market perform” rating in a research report on Monday, August 29th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $120.08.
Avalara Trading Up 0.0 %
AVLR stock opened at $92.25 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average is $90.98 and its two-hundred day moving average is $86.47. Avalara, Inc. has a 1 year low of $66.39 and a 1 year high of $190.21.
Avalara (NYSE:AVLR – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.16). The business had revenue of $208.60 million during the quarter, compared to analysts’ expectations of $209.19 million. Avalara had a negative net margin of 19.76% and a negative return on equity of 12.44%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) EPS. On average, equities research analysts anticipate that Avalara, Inc. will post -1.34 EPS for the current fiscal year.
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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