MUFG Securities EMEA plc bought a new position in shares of Avalara Inc (NYSE:AVLR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 92,200 shares of the company’s stock, valued at approximately $6,657,000. MUFG Securities EMEA plc owned about 0.12% of Avalara as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in Avalara in the second quarter valued at $80,000. Marshall Wace LLP purchased a new stake in shares of Avalara in the first quarter valued at about $2,232,000. Stevens Capital Management LP acquired a new position in shares of Avalara during the second quarter worth about $266,000. Laurion Capital Management LP acquired a new position in shares of Avalara during the first quarter worth about $5,194,000. Finally, Janus Henderson Group PLC increased its stake in shares of Avalara by 39.2% during the second quarter. Janus Henderson Group PLC now owns 2,211,355 shares of the company’s stock worth $159,660,000 after acquiring an additional 623,195 shares during the period. 78.50% of the stock is owned by hedge funds and other institutional investors.

Shares of AVLR stock traded up $1.76 during midday trading on Wednesday, reaching $73.19. 86,249 shares of the company traded hands, compared to its average volume of 1,076,894. Avalara Inc has a 1-year low of $28.09 and a 1-year high of $94.31. The firm has a market cap of $5.39 billion, a PE ratio of -67.84 and a beta of 0.59. The firm’s 50 day simple moving average is $83.77 and its two-hundred day simple moving average is $69.24.

Avalara (NYSE:AVLR) last posted its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Avalara had a negative return on equity of 23.05% and a negative net margin of 20.13%. The firm had revenue of $91.30 million for the quarter, compared to analyst estimates of $84.63 million. During the same quarter in the prior year, the company earned ($0.19) EPS. Avalara’s revenue was up 42.9% on a year-over-year basis. As a group, equities research analysts expect that Avalara Inc will post -0.65 EPS for the current year.

In other news, insider Scott M. Mcfarlane sold 35,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $82.65, for a total value of $2,892,750.00. Following the completion of the sale, the insider now owns 766,286 shares of the company’s stock, valued at $63,333,537.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott M. Mcfarlane sold 39,802 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $76.16, for a total value of $3,031,320.32. Over the last 90 days, insiders sold 903,047 shares of company stock valued at $76,580,598. 21.10% of the stock is owned by insiders.

AVLR has been the subject of a number of recent analyst reports. Raymond James began coverage on shares of Avalara in a research report on Thursday, September 5th. They issued an “outperform” rating and a $100.00 price objective for the company. KeyCorp reiterated an “overweight” rating and set a $101.00 target price (up previously from $74.00) on shares of Avalara in a research report on Thursday, August 8th. Canaccord Genuity assumed coverage on Avalara in a report on Monday, August 26th. They issued a “buy” rating and a $100.00 price target for the company. Bank of America reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $98.00) on shares of Avalara in a report on Thursday, August 8th. Finally, Needham & Company LLC increased their price objective on Avalara from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Avalara currently has an average rating of “Buy” and an average price target of $85.37.

About Avalara

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.

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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