Janus Henderson Group PLC grew its stake in Avalara Inc (NYSE:AVLR) by 7,090.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,588,160 shares of the company’s stock after acquiring an additional 1,566,072 shares during the quarter. Janus Henderson Group PLC owned about 2.29% of Avalara worth $88,603,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Oppenheimer & Co. Inc. increased its stake in shares of Avalara by 5.2% in the 4th 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 increased its position in shares of Avalara by 272.3% during the 1st quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock worth $62,000 after purchasing an additional 817 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Avalara by 10.9% during the 4th quarter. TD Asset Management Inc. now owns 11,148 shares of the company’s stock worth $347,000 after purchasing an additional 1,100 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Avalara during the 3rd quarter worth about $46,000. Finally, JPMorgan Chase & Co. increased its position in shares of Avalara by 127.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,121 shares of the company’s stock worth $109,000 after purchasing an additional 1,751 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.
Shares of AVLR traded down $0.01 during midday trading on Wednesday, hitting $71.61. The company had a trading volume of 1,086,600 shares, compared to its average volume of 931,076. The stock has a market capitalization of $4.85 billion and a PE ratio of -66.31. Avalara Inc has a 1 year low of $28.09 and a 1 year high of $74.90.
Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.15. The business had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $78.67 million. Avalara had a negative return on equity of 32.45% and a negative net margin of 23.56%. The company’s revenue was up 38.4% compared to the same quarter last year. Research analysts forecast that Avalara Inc will post -0.55 EPS for the current fiscal year.
In other news, Director Benjamin J. Goux sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.26, for a total transaction of $479,340.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alesia Lee Pinney sold 187,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.76, for a total value of $9,517,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,301,375 shares of company stock worth $502,437,300 in the last three months.
A number of equities analysts recently commented on AVLR shares. Zacks Investment Research cut Avalara from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Needham & Company LLC started coverage on Avalara in a report on Thursday, April 11th. They set a “buy” rating and a $64.00 target price for the company. JMP Securities raised their target price on Avalara from $40.00 to $49.00 and gave the company a “market outperform” rating in a report on Wednesday, February 13th. JPMorgan Chase & Co. raised their target price on Avalara from $38.00 to $64.00 and gave the company a “positive” rating in a report on Wednesday, February 13th. Finally, Goldman Sachs Group restated a “buy” rating and set a $50.00 target price on shares of Avalara in a report on Friday, February 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Avalara currently has an average rating of “Buy” and a consensus target price of $63.38.
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.
Featured Story: What is the 52-week high/low?
Receive News & Ratings for Avalara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avalara and related companies with MarketBeat.com's FREE daily email newsletter.