United Capital Financial Advisers LLC Sells 203 Shares of Avalara, Inc. (NYSE:AVLR)

United Capital Financial Advisers LLC decreased its stake in Avalara, Inc. (NYSE:AVLRGet Rating) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,755 shares of the company’s stock after selling 203 shares during the period. United Capital Financial Advisers LLC owned about 0.14% of Avalara worth $8,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aigen Investment Management LP raised its stake in shares of Avalara by 4.0% during the second quarter. Aigen Investment Management LP now owns 3,723 shares of the company’s stock valued at $263,000 after acquiring an additional 142 shares during the last quarter. Archford Capital Strategies LLC raised its stake in shares of Avalara by 0.8% during the second quarter. Archford Capital Strategies LLC now owns 21,611 shares of the company’s stock valued at $1,526,000 after acquiring an additional 166 shares during the last quarter. Mission Creek Capital Partners Inc. raised its stake in shares of Avalara by 2.5% during the first quarter. Mission Creek Capital Partners Inc. now owns 7,782 shares of the company’s stock valued at $774,000 after acquiring an additional 192 shares during the last quarter. Xponance Inc. raised its stake in shares of Avalara by 2.0% during the second quarter. Xponance Inc. now owns 10,082 shares of the company’s stock valued at $712,000 after acquiring an additional 194 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Avalara by 48.4% during the second quarter. Fifth Third Bancorp now owns 610 shares of the company’s stock valued at $43,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 90.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVLR shares. William Blair downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 24th. JMP Securities cut shares of Avalara from an “outperform” rating to a “market perform” rating in a research report on Monday, August 29th. Berenberg Bank cut shares of Avalara from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Raymond James cut shares of Avalara from an “outperform” rating to a “market perform” rating in a research report on Monday, August 15th. Finally, Needham & Company LLC cut shares of Avalara to a “hold” rating in a research report on Monday, August 15th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Avalara currently has a consensus rating of “Hold” and an average target price of $120.08.

Insider Activity

In other news, insider Scott M. Mcfarlane sold 20,000 shares of Avalara stock in a transaction dated 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 completion of the transaction, the insider now directly owns 540,644 shares in the company, valued at $50,031,195.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Avalara Stock Performance

NYSE:AVLR opened at $93.48 on Thursday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of -52.52 and a beta of 0.99. The firm has a fifty day simple moving average of $92.98 and a two-hundred day simple moving average of $87.45. Avalara, Inc. has a 12 month low of $66.39 and a 12 month high of $188.43.

About Avalara

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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

Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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