Avalara Inc (AVLR) Director Sells $479,340.00 in Stock

Avalara Inc (NYSE:AVLR) Director Benjamin J. Goux sold 9,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.26, for a total value of $479,340.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Avalara stock opened at $53.95 on Friday. Avalara Inc has a one year low of $28.09 and a one year high of $59.40. The firm has a market capitalization of $3.80 billion and a price-to-earnings ratio of -49.95.

Avalara (NYSE:AVLR) last released its earnings results on Tuesday, February 12th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates 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. Avalara’s quarterly revenue was up 32.6% compared to the same quarter last year. Equities research analysts expect that Avalara Inc will post -0.86 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in Avalara by 1,468.7% in the third quarter. Wells Fargo & Company MN now owns 4,706 shares of the company’s stock valued at $164,000 after acquiring an additional 4,406 shares during the period. Teachers Advisors LLC acquired a new stake in Avalara in the third quarter valued at $565,000. Vanguard Group Inc lifted its holdings in Avalara by 78.8% in the third quarter. Vanguard Group Inc now owns 780,392 shares of the company’s stock valued at $27,259,000 after acquiring an additional 343,950 shares during the period. BlackRock Inc. lifted its holdings in Avalara by 108.3% in the third quarter. BlackRock Inc. now owns 1,006,101 shares of the company’s stock valued at $35,142,000 after acquiring an additional 523,098 shares during the period. Finally, Clarius Group LLC acquired a new stake in Avalara in the fourth quarter valued at $2,723,000. 73.75% of the stock is owned by institutional investors.

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

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About Avalara

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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