Avalara Inc (NYSE:AVLR) Insider Sells $10,768,750.00 in Stock

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Avalara Inc (NYSE:AVLR) insider Scott M. Mcfarlane sold 125,000 shares of Avalara stock in a transaction on Monday, August 19th. The stock was sold at an average price of $86.15, for a total transaction of $10,768,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NYSE AVLR opened at $86.91 on Friday. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of -80.47 and a beta of 0.59. Avalara Inc has a one year low of $28.09 and a one year high of $94.31. The business’s fifty day moving average is $83.47 and its 200-day moving average is $65.72.

Avalara (NYSE:AVLR) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $84.63 million. Avalara had a negative return on equity of 23.05% and a negative net margin of 20.13%. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS. Equities research analysts forecast that Avalara Inc will post -0.65 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Avalara during the 2nd quarter worth $80,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Avalara by 209.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock worth $100,000 after purchasing an additional 2,180 shares during the period. Janus Henderson Group PLC raised its stake in shares of Avalara by 7,090.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,588,160 shares of the company’s stock worth $88,603,000 after purchasing an additional 1,566,072 shares during the period. Marshall Wace LLP bought a new stake in shares of Avalara during the 1st quarter worth $2,232,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Avalara during the 1st quarter worth $4,356,000. Institutional investors own 80.47% of the company’s stock.

A number of equities analysts have issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $100.00 price objective (up from $98.00) on shares of Avalara in a report on Thursday, August 8th. JMP Securities lifted their price objective 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. Stifel Nicolaus upgraded Avalara from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $100.00 in a research note on Thursday, August 8th. Needham & Company LLC lifted their target price on Avalara from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, KeyCorp reiterated an “overweight” rating and set a $101.00 target price (up from $74.00) on shares of Avalara in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $82.44.

About Avalara

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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