William Ingram Sells 25,000 Shares of Avalara Inc (AVLR) Stock

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Avalara Inc (NYSE:AVLR) insider William Ingram sold 25,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $68.62, for a total value of $1,715,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

William Ingram also recently made the following trade(s):

  • On Friday, May 10th, William Ingram sold 25,000 shares of Avalara stock. The stock was sold at an average price of $71.29, for a total value of $1,782,250.00.

Shares of NYSE AVLR traded down $0.50 during midday trading on Friday, reaching $71.65. 12,551 shares of the company’s stock were exchanged, compared to its average volume of 787,085. Avalara Inc has a 52-week low of $28.09 and a 52-week high of $74.90. The firm has a market cap of $4.84 billion and a price-to-earnings ratio of -66.34.

Avalara (NYSE:AVLR) last announced its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.15. Avalara had a negative return on equity of 32.45% and a negative net margin of 23.56%. The business had revenue of $85.00 million for the quarter, compared to analyst estimates of $78.67 million. The firm’s revenue was up 38.4% on a year-over-year basis. On average, research analysts expect that Avalara Inc will post -0.55 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on AVLR shares. Zacks Investment Research cut Avalara from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Needham & Company LLC boosted their price objective on Avalara from $64.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. KeyCorp restated an “overweight” rating and set a $54.00 price objective (up previously from $48.00) on shares of Avalara in a research note on Tuesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a research note on Wednesday, February 13th. Finally, JMP Securities boosted their price objective on Avalara from $40.00 to $49.00 and gave the stock a “market outperform” rating in a research note on Wednesday, February 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $63.38.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Avalara by 409.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,600,165 shares of the company’s stock valued at $145,064,000 after buying an additional 2,090,001 shares during the last quarter. BlackRock Inc. increased its holdings in Avalara by 81.0% in the first quarter. BlackRock Inc. now owns 1,994,830 shares of the company’s stock valued at $111,292,000 after buying an additional 892,636 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in Avalara in the first quarter valued at about $101,595,000. Janus Henderson Group PLC increased its holdings in Avalara by 7,090.1% in the first quarter. Janus Henderson Group PLC now owns 1,588,160 shares of the company’s stock valued at $88,603,000 after buying an additional 1,566,072 shares during the last quarter. Finally, Tensile Capital Management LLC increased its holdings in Avalara by 213.6% in the fourth quarter. Tensile Capital Management LLC now owns 846,741 shares of the company’s stock valued at $26,376,000 after buying an additional 576,741 shares during the last quarter. 73.09% of the stock is currently owned by institutional investors and hedge funds.

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About Avalara

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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