Insider Selling: Avalara, Inc. (NYSE:AVLR) Insider Sells 1,579 Shares of Stock

Avalara, Inc. (NYSE:AVLR) insider Ross Tennenbaum sold 1,579 shares of Avalara stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $140.86, for a total value of $222,417.94. Following the transaction, the insider now directly owns 74,813 shares in the company, valued at $10,538,159.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Wednesday, April 7th, Ross Tennenbaum sold 5,522 shares of Avalara stock. The stock was sold at an average price of $140.31, for a total value of $774,791.82.
  • 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 stock was sold at an average price of $164.49, for a total value of $152,317.74.

Shares of AVLR stock 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’s 50-day moving average is $146.13 and its 200 day moving average is $155.68. The company has a market cap of $12.00 billion, a P/E ratio of -219.47 and a beta of 0.73.

Avalara (NYSE:AVLR) last issued its quarterly earnings data on Wednesday, February 10th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. Avalara had a negative return on equity of 6.97% and a negative net margin of 10.89%. The company had revenue of $144.80 million for the quarter, compared to the consensus estimate of $133.37 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 34.1% compared to the same quarter last year. On average, sell-side analysts predict that Avalara, Inc. will post -0.63 EPS for the current fiscal year.

Several brokerages have recently issued reports on AVLR. JPMorgan Chase & Co. cut Avalara from an “overweight” rating to a “neutral” rating and set a $195.00 price objective on the stock. in a report on Wednesday, December 9th. Evercore ISI began coverage on Avalara in a report on Friday, December 18th. They set an “outperform” rating and a $220.00 price objective on the stock. Raymond James boosted their target price on Avalara from $180.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. Zacks Investment Research downgraded Avalara from a “buy” rating to a “hold” rating in a research report on Friday, January 29th. Finally, Stephens reissued a “buy” rating and set a $177.00 price target on shares of Avalara in a research report on Friday, February 19th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $189.13.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Avalara by 6.4% in the fourth quarter. BlackRock Inc. now owns 6,268,408 shares of the company’s stock worth $1,033,597,000 after acquiring an additional 375,716 shares in the last quarter. Morgan Stanley boosted its holdings in Avalara by 4,751.2% in the fourth quarter. Morgan Stanley now owns 2,343,274 shares of the company’s stock worth $386,382,000 after acquiring an additional 2,294,971 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Avalara by 2.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 775,576 shares of the company’s stock worth $127,885,000 after acquiring an additional 18,524 shares in the last quarter. Norges Bank acquired a new stake in Avalara in the fourth quarter worth about $113,092,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Avalara by 63.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 592,375 shares of the company’s stock worth $97,677,000 after acquiring an additional 229,366 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

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

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