MetLife Investment Advisors LLC boosted its holdings in Avalara Inc (NYSE:AVLR) by 213.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,062 shares of the company’s stock after buying an additional 8,209 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Avalara were worth $673,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of AVLR. Quantamental Technologies LLC grew its holdings in shares of Avalara by 272.3% during the first 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. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Avalara during the first quarter worth about $89,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Avalara by 209.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock worth $100,000 after buying an additional 2,180 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Avalara during the fourth quarter worth about $126,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Avalara during the first quarter worth about $131,000. 78.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on AVLR shares. Needham & Company LLC restated a “buy” rating and issued a $42.00 price objective (down previously from $45.00) on shares of Synaptics in a research report on Friday, May 10th. Zacks Investment Research upgraded shares of Catasys from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday. KeyCorp restated a “buy” rating and issued a $65.00 price objective on shares of Talend in a research report on Wednesday, May 8th. Finally, JMP Securities lifted their price target on shares of Pegasystems from $72.00 to $81.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. Seven analysts have rated the stock with a buy rating, Avalara has a consensus rating of “Buy” and a consensus price target of $68.29.
Avalara (NYSE:AVLR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. Avalara had a negative net margin of 23.56% and a negative return on equity of 32.45%. The company had revenue of $85.00 million during the quarter, compared to analyst estimates of $78.67 million. Avalara’s quarterly revenue was up 38.4% on a year-over-year basis. As a group, research analysts anticipate that Avalara Inc will post -0.55 EPS for the current fiscal year.
In other news, insider Scott M. Mcfarlane sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $69.00, for a total transaction of $6,900,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Ingram sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $71.29, for a total transaction of $1,782,250.00. The disclosure for this sale can be found here. Insiders have sold 8,927,207 shares of company stock worth $622,339,333 in the last 90 days.
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.
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