Insider Selling: Avalara Inc (NYSE:AVLR) Director Sells 250,000 Shares of Stock
Avalara Inc (NYSE:AVLR) Director Edward A. Gilhuly sold 250,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $85.81, for a total value of $21,452,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
AVLR traded up $2.02 during midday trading on Wednesday, hitting $86.00. 995,281 shares of the company were exchanged, compared to its average volume of 1,003,493. The firm has a market capitalization of $6.34 billion, a P/E ratio of -79.63 and a beta of 0.59. Avalara Inc has a 1-year low of $28.09 and a 1-year high of $94.31. The firm’s 50 day moving average price is $83.31 and its 200-day moving average price is $65.49.
Avalara (NYSE:AVLR) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. The firm had revenue of $91.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 42.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) EPS. On average, equities analysts predict that Avalara Inc will post -0.65 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Avalara by 47.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 971 shares of the company’s stock worth $71,000 after buying an additional 313 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Avalara by 7.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,536 shares of the company’s stock worth $400,000 after buying an additional 399 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Avalara during the 2nd quarter worth about $36,000. M&T Bank Corp lifted its holdings in Avalara by 7.6% during the 2nd quarter. M&T Bank Corp now owns 9,172 shares of the company’s stock worth $662,000 after buying an additional 650 shares during the period. Finally, Quantamental Technologies LLC lifted its holdings in Avalara by 272.3% during the 1st quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock worth $62,000 after buying an additional 817 shares during the period. 80.47% of the stock is currently owned by hedge funds and other institutional investors.
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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