Avalara Inc (NYSE:AVLR) insider Scott M. Mcfarlane sold 100,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $69.00, for a total value of $6,900,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Avalara stock opened at $69.27 on Monday. Avalara Inc has a 12 month low of $28.09 and a 12 month high of $74.90. The firm has a market cap of $4.85 billion and a P/E ratio of -64.14.
Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $78.67 million. Avalara’s revenue for the quarter was up 38.4% on a year-over-year basis. Analysts anticipate that Avalara Inc will post -0.55 EPS for the current year.
AVLR has been the subject of a number of analyst reports. Zacks Investment Research cut Avalara from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Needham & Company LLC initiated coverage on Avalara in a research note on Thursday, April 11th. They set a “buy” rating and a $64.00 price objective for the company. JMP Securities lifted 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. JPMorgan Chase & Co. lifted 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, Goldman Sachs Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Avalara in a research note on Friday, February 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.38.
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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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