Insider Selling: Avalara Inc (NYSE:AVLR) Director Sells 1,810,000 Shares of Stock

Avalara Inc (NYSE:AVLR) Director Edward A. Gilhuly sold 1,810,000 shares of Avalara stock in a transaction on Monday, June 10th. The stock was sold at an average price of $70.75, for a total transaction of $128,057,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Avalara stock traded down $0.45 during trading on Wednesday, hitting $67.05. The stock had a trading volume of 711,867 shares, compared to its average volume of 993,363. The firm has a market capitalization of $4.89 billion and a PE ratio of -62.08. Avalara Inc has a 12 month low of $28.09 and a 12 month high of $75.33.

Avalara (NYSE:AVLR) last released its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.15. The firm had revenue of $85.00 million during the quarter, compared to analyst estimates of $78.67 million. Avalara had a negative net margin of 23.56% and a negative return on equity of 32.45%. The company’s revenue for the quarter was up 38.4% compared to the same quarter last year. Equities analysts forecast that Avalara Inc will post -0.55 EPS for the current year.



Institutional investors and hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Avalara by 265.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 658 shares of the company’s stock valued at $37,000 after buying an additional 478 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Avalara during the 1st quarter valued at about $47,000. Quantamental Technologies LLC lifted its holdings in Avalara by 272.3% during the 1st quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock valued at $62,000 after buying an additional 817 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Avalara during the 4th quarter valued at about $71,000. Finally, PNC Financial Services Group Inc. bought a new stake in Avalara during the 1st quarter valued at about $72,000. Institutional investors own 77.89% of the company’s stock.

AVLR has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Avalara from a “sell” rating to a “hold” rating in a report on Monday, April 15th. KeyCorp raised their target price on shares of Avalara from $54.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. JMP Securities raised their target price 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. Needham & Company LLC initiated coverage on shares of Avalara in a report on Thursday, April 11th. They issued a “buy” rating and a $64.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a report on Wednesday, February 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $63.38.

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Avalara Company Profile

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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