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.

AVLR has been the topic of several recent research reports. Zacks Investment Research downgraded Avalara from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Stifel Nicolaus raised Avalara from a “hold” rating to a “buy” rating and raised their price objective for the company from $52.00 to $100.00 in a report on Thursday, August 8th. Stephens initiated coverage on Avalara in a report on Tuesday, July 30th. They set an “overweight” rating and a $105.00 price objective on the stock. Needham & Company LLC raised their price objective on Avalara from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, KeyCorp reissued an “overweight” rating and set a $101.00 price objective (up previously from $74.00) on shares of Avalara in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $82.44.

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

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