Avalara Inc (NYSE:AVLR) insider Scott M. Mcfarlane sold 12,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $53.03, for a total value of $636,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Avalara stock opened at $54.67 on Friday. The stock has a market cap of $3.81 billion and a P/E ratio of -50.62. Avalara Inc has a 52 week low of $28.09 and a 52 week high of $59.40.
Avalara (NYSE:AVLR) last posted its quarterly earnings data on Tuesday, February 12th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $71.24 million. The company’s revenue was up 32.6% on a year-over-year basis. As a group, analysts expect that Avalara Inc will post -0.86 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Avalara from a “sell” rating to a “hold” rating in a research report on Monday, December 3rd. Goldman Sachs Group restated a “buy” rating and issued a $50.00 price target on shares of Avalara in a research report on Friday, February 1st. JMP Securities raised their price target on Avalara from $40.00 to $49.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 13th. JPMorgan Chase & Co. raised their price target on Avalara from $38.00 to $64.00 and gave the company a “positive” rating in a research report on Wednesday, February 13th. Finally, KeyCorp restated a “buy” rating on shares of Avalara in a research report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.00.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Avalara during the 3rd quarter worth about $46,000. Oppenheimer Asset Management Inc. purchased a new stake in Avalara during the 4th quarter worth about $71,000. Metropolitan Life Insurance Co. NY increased its position in 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 in the last quarter. JPMorgan Chase & Co. increased its position in Avalara by 127.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,121 shares of the company’s stock worth $109,000 after purchasing an additional 1,751 shares in the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in Avalara during the 4th quarter worth about $126,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.
Avalara, Inc provides transaction tax compliance cloud-based solutions 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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