Insider Selling: Avalara Inc (NYSE:AVLR) Insider Sells 102,000 Shares of Stock

Avalara Inc (NYSE:AVLR) insider Scott M. Mcfarlane sold 102,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $83.75, for a total transaction of $8,542,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Avalara stock traded up $0.94 during trading hours on Friday, reaching $85.32. 1,904,975 shares of the stock were exchanged, compared to its average volume of 999,319. The stock has a market cap of $6.37 billion, a P/E ratio of -79.00 and a beta of 0.59. Avalara Inc has a 52-week low of $28.09 and a 52-week high of $94.31. The firm’s 50 day moving average is $81.90 and its 200 day moving average is $64.63.

Avalara (NYSE:AVLR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.08. The company had revenue of $91.30 million during the quarter, compared to the consensus estimate of $84.63 million. Avalara had a negative net margin of 20.13% and a negative return on equity of 23.05%. Avalara’s quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) EPS. Equities research analysts anticipate that Avalara Inc will post -0.65 earnings per share for the current fiscal year.



AVLR has been the subject of a number of recent research reports. KeyCorp reiterated an “overweight” rating and set a $101.00 price target (up previously from $74.00) on shares of Avalara in a research note on Thursday, August 8th. William Blair initiated coverage on shares of Avalara in a research note on Wednesday, August 7th. They set an “outperform” rating and a $5.40 price target for the company. Needham & Company LLC increased their price target on shares of Avalara from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Stifel Nicolaus upgraded shares of Avalara from a “hold” rating to a “buy” rating and increased their price target for the stock from $52.00 to $100.00 in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Avalara from $78.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Avalara presently has an average rating of “Buy” and a consensus target price of $82.44.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its position in Avalara by 2.5% during the fourth quarter. Northern Trust Corp now owns 96,878 shares of the company’s stock worth $3,017,000 after purchasing an additional 2,388 shares during the period. Geode Capital Management LLC grew its holdings in shares of Avalara by 16.5% during the fourth quarter. Geode Capital Management LLC now owns 86,341 shares of the company’s stock worth $2,689,000 after purchasing an additional 12,198 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Avalara by 46.1% during the fourth quarter. Bank of America Corp DE now owns 13,841 shares of the company’s stock worth $431,000 after purchasing an additional 4,365 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Avalara in the fourth quarter valued at about $206,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Avalara by 209.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock valued at $100,000 after acquiring an additional 2,180 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

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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Insider Buying and Selling by Quarter for Avalara (NYSE:AVLR)

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