Valmark Advisers Inc. Has $468,000 Position in Avalara, Inc. (NYSE:AVLR)

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Valmark Advisers Inc. raised its position in Avalara, Inc. (NYSE:AVLR) by 40.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,675 shares of the company’s stock after buying an additional 1,067 shares during the period. Valmark Advisers Inc.’s holdings in Avalara were worth $468,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AVLR. PNC Financial Services Group Inc. boosted its stake in shares of Avalara by 0.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,008 shares of the company’s stock valued at $1,331,000 after purchasing an additional 85 shares in the last quarter. Hanseatic Management Services Inc. increased its position in shares of Avalara by 1.1% during the 2nd quarter. Hanseatic Management Services Inc. now owns 8,829 shares of the company’s stock valued at $1,175,000 after purchasing an additional 97 shares during the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Avalara by 4.5% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 2,323 shares of the company’s stock valued at $296,000 after purchasing an additional 100 shares during the last quarter. Spearhead Capital Advisors LLC increased its position in shares of Avalara by 5.4% during the 3rd quarter. Spearhead Capital Advisors LLC now owns 2,629 shares of the company’s stock valued at $335,000 after purchasing an additional 135 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Avalara by 6.7% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,020 shares of the company’s stock valued at $384,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.

In other news, insider Ross Tennenbaum sold 926 shares of Avalara stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $124.08, for a total transaction of $114,898.08. Following the sale, the insider now owns 69,898 shares of the company’s stock, valued at $8,672,943.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Ingram sold 25,000 shares of Avalara stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $120.96, for a total value of $3,024,000.00. Following the sale, the director now directly owns 26,731 shares in the company, valued at approximately $3,233,381.76. The disclosure for this sale can be found here. Insiders have sold 172,012 shares of company stock worth $23,654,127 in the last ninety days. Corporate insiders own 21.10% of the company’s stock.

AVLR stock opened at $151.38 on Tuesday. Avalara, Inc. has a 1 year low of $55.50 and a 1 year high of $175.67. The stock’s 50 day moving average price is $149.53 and its 200 day moving average price is $126.44. The firm has a market cap of $12.80 billion, a P/E ratio of -236.53 and a beta of 0.72.

Avalara (NYSE:AVLR) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.26. The firm had revenue of $127.88 million during the quarter, compared to the consensus estimate of $116.25 million. Avalara had a negative return on equity of 6.97% and a negative net margin of 10.89%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. On average, analysts anticipate that Avalara, Inc. will post -0.67 EPS for the current year.

A number of equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Avalara from $138.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Mizuho boosted their price objective on Avalara from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Avalara from $167.00 to $203.00 in a report on Monday, November 9th. Zacks Investment Research cut Avalara from a “hold” rating to a “sell” rating in a report on Wednesday, November 11th. Finally, JMP Securities upped their target price on Avalara from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $161.60.

Avalara Profile

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.

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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