Alger: "Business Fundamentals for Avalara (AVLR) Remained St

Alger: "Business Fundamentals for Avalara (AVLR) Remained Strong Despite Performing Poorly"


Alger: “Business Fundamentals for Avalara (AVLR) Remained Strong Despite Performing Poorly”
Alger, an investment management firm, published its “Alger Small Cap Focus Fund” first quarter 2021 investor letter – a copy of which can be downloaded here.  During the quarter, the largest portfolio sector weightings were Health Care and Information Technology. The largest sector overweight was Health Care. Class A shares of the Alger Small Cap Focus Fund underperformed the Russell 2000 Growth Index during the first quarter of 2021. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Alger Small Cap Focus Fund, in their Q1 2021 investor letter, mentioned Avalara, Inc. (NYSE: AVLR) and shared their insights on the company. Avalara, Inc. is an automated tax compliance software company that currently has a $16.2 billion market capitalization. Since the beginning of the year, AVLR delivered a -11.52% return, while its 12-month gains are up by 71%. As of April 16, 2021, the stock closed at $148.33 per share.

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