Avalara, Inc. (NYSE: AVLR – Get a rating) insider Scott M. Mcfarlane sold 20,000 shares in a trade dated Wednesday, August 10. The stock was sold at an average price of $91.82, for a total transaction of $1,836,400.00. Following the sale, the insider now owns 583,644 shares of the company, valued at approximately $53,590,192.08. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website.
Avalara trades up 0.7%
Shares of Avalara Stock opened at $92.25 on Friday. Avalara, Inc. has a 12-month low of $66.39 and a 12-month high of $191.67. The company has a current ratio of 3.18, a quick ratio of 3.15 and a debt ratio of 0.94. The stock has a market capitalization of $8.11 billion, a PE ratio of -51.83 and a beta of 1.08. The company has a 50-day moving average of $82.77 and a two-hundred-day moving average of $88.37.
Avalara (NYSE: AVLR – Get a rating) last released its results on Monday, August 8. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.08) by $0.06. Avalara had a negative net margin of 19.76% and a negative return on equity of 12.44%. The company posted revenue of $208.60 million in the quarter, compared to $209.19 million expected by analysts. During the same period last year, the company posted ($0.25) earnings per share. The company’s quarterly revenue increased by 23.4% compared to the same quarter last year. On average, research analysts expect Avalara, Inc. to post -1.38 EPS for the current fiscal year.
Institutional entries and exits
A number of hedge funds have recently changed their holdings to AVLR. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Avalara shares by 2.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,704 shares of the company worth $1,898,000 after buying 408 more shares last quarter. Oppenheimer & Co. Inc. increased its stake in Avalara stock by 7.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,916 shares of the company worth $248,000 after buying 126 additional shares in the last quarter. Fisher Asset Management LLC purchased a new stock position in Avalara during Q4 for a value of approximately $429,000. Daiwa Securities Group Inc. increased its stake in Avalara shares by 3.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 52,047 shares of the company worth $6,720,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Avalara stock during Q4 worth approximately $253,000. 92.20% of the shares are held by hedge funds and other institutional investors.
Changes to analyst ratings
AVLR has been the subject of several recent research reports. Goldman Sachs Group lowered its price target on Avalara shares from $123.00 to $109.00 and set a “buy” rating for the company in a Thursday, July 14 research note. Berenberg Bank downgraded Avalara’s shares from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler downgraded Avalara shares from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $118.00 to $93.50 in a Monday 8 research note. august. Mizuho cut Avalara shares to a “neutral” rating and set a price target of $93.50 for the company. in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on Avalara shares in a Monday, August 8, report. Six analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, Avalara has an average rating of “Moderate Buy” and an average price target of $131.08.
Avalara Company Profile
Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transactional tax compliance worldwide. The company offers a suite of compliance solutions that enable businesses to tackle the complexity of transactional 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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