Avalara, Inc. (NYSE:AVLR) Insider Ross Tennenbaum Sells 5,522 Shares of Stock

Avalara, Inc. (NYSE:AVLR) insider Ross Tennenbaum sold 5,522 shares of the business’s stock in a transaction that occurred on Wednesday, April 7th. The stock was sold at an average price of $140.31, for a total value of $774,791.82. Following the sale, the insider now owns 74,813 shares of the company’s stock, valued at $10,497,012.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ross Tennenbaum also recently made the following trade(s):

  • On Monday, April 5th, Ross Tennenbaum sold 1,579 shares of Avalara stock. The stock was sold at an average price of $140.86, for a total value of $222,417.94.
  • On Thursday, March 18th, Ross Tennenbaum sold 13,094 shares of Avalara stock. The stock was sold at an average price of $136.57, for a total value of $1,788,247.58.
  • On Thursday, February 4th, Ross Tennenbaum sold 926 shares of Avalara stock. The shares were sold at an average price of $164.49, for a total value of $152,317.74.

NYSE:AVLR opened at $140.46 on Thursday. Avalara, Inc. has a 1 year low of $69.72 and a 1 year high of $185.37. The stock has a market cap of $12.00 billion, a P/E ratio of -219.47 and a beta of 0.73. The stock has a 50-day simple moving average of $146.13 and a 200-day simple moving average of $155.68.

Avalara (NYSE:AVLR) last posted its earnings results on Wednesday, February 10th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.14. The firm had revenue of $144.80 million during the quarter, compared to analysts’ expectations of $133.37 million. Avalara had a negative return on equity of 6.97% and a negative net margin of 10.89%. The firm’s revenue was up 34.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, research analysts forecast that Avalara, Inc. will post -0.63 EPS for the current fiscal year.

A number of equities research analysts have recently commented on AVLR shares. Needham & Company LLC increased their target price on shares of Avalara from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 11th. Canaccord Genuity boosted their target price on Avalara from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 11th. Piper Sandler increased their price target on Avalara from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, February 11th. JPMorgan Chase & Co. lowered Avalara from an “overweight” rating to a “neutral” rating and set a $195.00 price objective on the stock. in a research report on Wednesday, December 9th. Finally, Morgan Stanley initiated coverage on Avalara in a report on Wednesday. They issued an “overweight” rating and a $170.00 target price for the company. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $189.13.

Institutional investors have recently modified their holdings of the company. FMR LLC grew its position in shares of Avalara by 128.3% in the 1st quarter. FMR LLC now owns 404,634 shares of the company’s stock valued at $22,575,000 after buying an additional 227,359 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Avalara during the first quarter worth about $3,424,000. Great West Life Assurance Co. Can increased its position in shares of Avalara by 966.1% during the third quarter. Great West Life Assurance Co. Can now owns 427,147 shares of the company’s stock worth $675,000 after purchasing an additional 387,080 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Avalara by 18.0% in the 3rd quarter. ProShare Advisors LLC now owns 3,702 shares of the company’s stock valued at $471,000 after purchasing an additional 564 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Avalara by 3.2% in the 3rd quarter. Truist Financial Corp now owns 59,728 shares of the company’s stock valued at $7,606,000 after purchasing an additional 1,879 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

About Avalara

Avalara, Inc engages in the provision of cloud-based solutions. The firm focuses on taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Its products include AvaTax excise, AvaTax communications, returns excise, trustfile, CertCapture, and avalara licensing.

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