Baird Financial Group Inc. Has $1.31 Million Position in Avalara, Inc. (NYSE:AVLR)

Baird Financial Group Inc. boosted its holdings in Avalara, Inc. (NYSE:AVLRGet Rating) by 26.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,485 shares of the company’s stock after acquiring an additional 3,921 shares during the quarter. Baird Financial Group Inc.’s holdings in Avalara were worth $1,305,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Tobam purchased a new position in Avalara during the 2nd quarter worth $32,000. Ellevest Inc. boosted its holdings in 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 last quarter. Lazard Asset Management LLC boosted its holdings in 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 last quarter. Fifth Third Bancorp boosted its holdings in Avalara by 48.4% during the 2nd quarter. Fifth Third Bancorp now owns 610 shares of the company’s stock worth $43,000 after acquiring an additional 199 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in Avalara during the 1st quarter worth $44,000. Institutional investors and hedge funds own 90.68% of the company’s stock.

Insider Activity at Avalara

In other news, insider Scott M. Mcfarlane sold 20,000 shares of the company’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $92.54, for a total transaction of $1,850,800.00. Following the sale, the insider now directly owns 540,644 shares in the company, valued at $50,031,195.76. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AVLR shares. Raymond James downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a report on Monday, August 15th. William Blair downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 24th. BMO Capital Markets cut Avalara from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 9th. Morgan Stanley cut Avalara from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $111.00 to $93.50 in a research note on Tuesday, August 16th. Finally, Piper Sandler cut Avalara from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $118.00 to $93.50 in a research note on Monday, August 8th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Avalara has a consensus rating of “Hold” and a consensus price target of $120.08.

Avalara Stock Performance

Shares of Avalara stock opened at $93.48 on Friday. Avalara, Inc. has a 52-week low of $66.39 and a 52-week high of $188.43. The stock’s 50-day simple moving average is $92.93 and its 200 day simple moving average is $87.02. The stock has a market capitalization of $8.28 billion, a P/E ratio of -52.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.18.

Avalara Company Profile

(Get Rating)

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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