SG Americas Securities LLC Trims Holdings in Avalara, Inc. (NYSE:AVLR)

SG Americas Securities LLC lessened its holdings in shares of Avalara, Inc. (NYSE:AVLRGet Rating) by 16.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,585 shares of the company’s stock after selling 308 shares during the period. SG Americas Securities LLC’s holdings in Avalara were worth $112,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in shares of Avalara by 6,583.3% during the 1st quarter. Lazard Asset Management LLC now owns 401 shares of the company’s stock worth $39,000 after acquiring an additional 395 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of Avalara during the 1st quarter worth approximately $44,000. Ellevest Inc. grew its holdings in shares of Avalara by 2,475.0% during the 2nd quarter. Ellevest Inc. now owns 515 shares of the company’s stock worth $36,000 after acquiring an additional 495 shares during the period. Cullen Frost Bankers Inc. grew its holdings in shares of Avalara by 119.1% during the 1st quarter. Cullen Frost Bankers Inc. now owns 561 shares of the company’s stock worth $56,000 after acquiring an additional 305 shares during the period. Finally, Tcwp LLC purchased a new position in shares of Avalara during the 1st quarter worth approximately $62,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho downgraded Avalara to a “neutral” rating and set a $93.50 target price on the stock. in a report on Tuesday, August 9th. BMO Capital Markets downgraded Avalara from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 9th. JMP Securities cut Avalara from an “outperform” rating to a “market perform” rating in a research report on Monday, August 29th. Berenberg Bank cut Avalara from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, William Blair cut Avalara from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 24th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Avalara has an average rating of “Hold” and a consensus target price of $120.08.

Avalara Stock Performance

AVLR stock opened at $93.48 on Wednesday. The stock has a market capitalization of $8.28 billion, a PE ratio of -52.52 and a beta of 0.99. Avalara, Inc. has a 12-month low of $66.39 and a 12-month high of $188.43. 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’s 50 day simple moving average is $92.84 and its 200 day simple moving average is $86.83.

Insider Activity at Avalara

In other Avalara news, insider Scott M. Mcfarlane sold 20,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 540,644 shares in the company, valued at approximately $50,031,195.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Avalara (NYSE:AVLR)

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