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.
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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