United Capital Financial Advisers LLC Trims Stock Holdings in Avalara, Inc. (NYSE:AVLR)

United Capital Financial Advisers LLC decreased its holdings in Avalara, Inc. (NYSE:AVLRGet Rating) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 118,755 shares of the company’s stock after selling 203 shares during the period. United Capital Financial Advisers LLC’s holdings in Avalara were worth $8,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Rhumbline Advisers grew its stake in Avalara by 11.7% during the second quarter. Rhumbline Advisers now owns 86,519 shares of the company’s stock valued at $6,108,000 after acquiring an additional 9,085 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Avalara by 43.2% in the 2nd quarter. Clearbridge Investments LLC now owns 739,222 shares of the company’s stock worth $52,189,000 after acquiring an additional 222,829 shares during the last quarter. Axiom Investors LLC DE lifted its holdings in shares of Avalara by 24.6% in the 2nd quarter. Axiom Investors LLC DE now owns 30,425 shares of the company’s stock worth $2,148,000 after acquiring an additional 6,005 shares during the last quarter. Schwartz Investment Counsel Inc. bought a new stake in shares of Avalara in the 2nd quarter worth approximately $7,060,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Avalara by 8.1% in the 2nd quarter. Toronto Dominion Bank now owns 19,086 shares of the company’s stock worth $1,347,000 after acquiring an additional 1,430 shares during the last quarter. Hedge funds and other institutional investors own 90.68% of the company’s stock.

Insider Transactions at Avalara

In other Avalara news, insider Scott M. Mcfarlane sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $92.54, for a total transaction of $1,850,800.00. Following the sale, the insider now owns 540,644 shares in the company, valued at approximately $50,031,195.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVLR shares. Piper Sandler lowered shares of Avalara from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $118.00 to $93.50 in a report on Monday, August 8th. William Blair lowered shares of Avalara from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 24th. JMP Securities downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a research report on Monday, August 29th. Needham & Company LLC downgraded shares of Avalara to a “hold” rating in a research report on Monday, August 15th. Finally, BMO Capital Markets downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $120.08.

Avalara Price Performance

Shares of NYSE:AVLR opened at $93.48 on Thursday. The firm’s 50 day moving average price is $92.98 and its 200-day moving average price is $87.45. Avalara, Inc. has a twelve month low of $66.39 and a twelve month high of $188.43. 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 stock has a market capitalization of $8.28 billion, a PE ratio of -52.52 and a beta of 0.99.

Avalara Profile

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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.

Further Reading

Want to see what other hedge funds are holding AVLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avalara, Inc. (NYSE:AVLRGet Rating).

Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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