Janus Henderson Group PLC Increases Position in Avalara Inc (NYSE:AVLR)
Janus Henderson Group PLC boosted its holdings in Avalara Inc (NYSE:AVLR) by 39.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,211,355 shares of the company’s stock after purchasing an additional 623,195 shares during the quarter. Janus Henderson Group PLC owned about 3.16% of Avalara worth $159,660,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp lifted its position in shares of Avalara by 2.5% during the 4th quarter. Northern Trust Corp now owns 96,878 shares of the company’s stock worth $3,017,000 after buying an additional 2,388 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Avalara by 16.5% during the 4th quarter. Geode Capital Management LLC now owns 86,341 shares of the company’s stock worth $2,689,000 after buying an additional 12,198 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Avalara by 46.1% during the 4th quarter. Bank of America Corp DE now owns 13,841 shares of the company’s stock worth $431,000 after buying an additional 4,365 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Avalara during the 4th quarter worth approximately $206,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Avalara by 209.2% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
AVLR opened at $84.33 on Thursday. The firm’s fifty day moving average price is $81.59. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of -78.08 and a beta of 0.59. Avalara Inc has a one year low of $28.09 and a one year high of $94.31.
A number of equities research analysts recently commented on AVLR shares. Zacks Investment Research cut shares of Avalara from a “buy” rating to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of Avalara from $78.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Bank of America reaffirmed a “buy” rating and issued a $100.00 price target (up previously from $98.00) on shares of Avalara in a report on Thursday, August 8th. JMP Securities lifted their price target on shares of Avalara from $49.00 to $67.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Finally, First Analysis started coverage on shares of Avalara in a report on Friday, July 26th. They issued a “strong-buy” rating on the stock. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Avalara presently has a consensus rating of “Buy” and an average price target of $82.44.
In other Avalara news, Director Edward A. Gilhuly sold 2,500,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $69.00, for a total value of $172,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Pincus & Co. Warburg sold 4,400,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $69.63, for a total transaction of $306,372,000.00. The disclosure for this sale can be found here. Insiders sold 8,870,468 shares of company stock valued at $618,374,420 over the last quarter. 21.10% of the stock is owned by company insiders.
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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