Avalara Inc (AVLR) Insider Sells $665,760.00 in Stock

Avalara Inc (NYSE:AVLR) insider Scott M. Mcfarlane sold 12,000 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $55.48, for a total value of $665,760.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of NYSE:AVLR traded down $0.05 during midday trading on Thursday, reaching $55.80. The company’s stock had a trading volume of 191,338 shares, compared to its average volume of 884,568. Avalara Inc has a fifty-two week low of $28.09 and a fifty-two week high of $59.40. The firm has a market cap of $3.85 billion and a PE ratio of -51.67.

Avalara (NYSE:AVLR) last announced its earnings results on Tuesday, February 12th. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.01. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $71.24 million. The business’s revenue was up 32.6% compared to the same quarter last year. On average, analysts predict that Avalara Inc will post -0.86 EPS for the current fiscal year.

Several research analysts have issued reports on AVLR shares. Bank of America upgraded Avalara from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Zacks Investment Research lowered Avalara from a “hold” rating to a “sell” rating in a research note on Tuesday, January 1st. JPMorgan Chase & Co. upgraded Avalara from a “neutral” rating to an “overweight” rating and set a $30.08 target price for the company in a research note on Thursday, December 13th. KeyCorp restated an “overweight” rating and issued a $54.00 target price (up from $48.00) on shares of Avalara in a research note on Tuesday, February 12th. Finally, JMP Securities raised their target price on Avalara from $40.00 to $49.00 and gave the company a “market outperform” rating in a research note on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Avalara presently has an average rating of “Buy” and a consensus price target of $49.00.

Several large investors have recently made changes to their positions in the company. Vista Equity Partners Management LLC increased its position in Avalara by 235.3% in the fourth quarter. Vista Equity Partners Management LLC now owns 234,700 shares of the company’s stock worth $7,311,000 after purchasing an additional 164,700 shares during the period. Tensile Capital Management LLC increased its position in Avalara by 213.6% in the fourth quarter. Tensile Capital Management LLC now owns 846,741 shares of the company’s stock worth $26,376,000 after purchasing an additional 576,741 shares during the period. Wells Fargo & Company MN increased its position in Avalara by 1,468.7% in the third quarter. Wells Fargo & Company MN now owns 4,706 shares of the company’s stock worth $164,000 after purchasing an additional 4,406 shares during the period. Rhumbline Advisers increased its position in Avalara by 80.3% in the fourth quarter. Rhumbline Advisers now owns 12,495 shares of the company’s stock worth $389,000 after purchasing an additional 5,566 shares during the period. Finally, Teachers Advisors LLC acquired a new stake in Avalara in the third quarter worth about $565,000. Institutional investors own 70.64% of the company’s stock.

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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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