Laurion Capital Management LP acquired a new position in Avalara Inc (NYSE:AVLR) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 93,091 shares of the company’s stock, valued at approximately $5,194,000.
Several other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of Avalara by 5.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 6,529 shares of the company’s stock worth $203,000 after acquiring an additional 324 shares during the last quarter. Quantamental Technologies LLC grew its stake in shares of Avalara by 272.3% in the first quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock worth $62,000 after acquiring an additional 817 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Avalara by 10.9% in the fourth quarter. TD Asset Management Inc. now owns 11,148 shares of the company’s stock worth $347,000 after acquiring an additional 1,100 shares during the last quarter. Legal & General Group Plc acquired a new stake in Avalara during the third quarter worth $46,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Avalara by 209.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock worth $100,000 after buying an additional 2,180 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.
A number of research firms have weighed in on AVLR. Zacks Investment Research upgraded shares of Avalara from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Monday, May 13th. Needham & Company LLC lifted their price target on shares of Avalara from $64.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. KeyCorp lifted their price target on shares of Avalara from $54.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. JMP Securities lifted their price target on shares of Avalara from $49.00 to $67.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $63.38.
AVLR opened at $71.25 on Monday. Avalara Inc has a fifty-two week low of $28.09 and a fifty-two week high of $74.90. The firm has a market cap of $4.98 billion and a price-to-earnings ratio of -65.97.
Avalara (NYSE:AVLR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.15. Avalara had a negative net margin of 23.56% and a negative return on equity of 32.45%. The firm had revenue of $85.00 million for the quarter, compared to the consensus estimate of $78.67 million. The business’s quarterly revenue was up 38.4% compared to the same quarter last year. Equities analysts forecast that Avalara Inc will post -0.55 EPS for the current fiscal year.
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Avalara Company Profile
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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