Avalara Inc (NYSE:AVLR) Director Benjamin J. Goux sold 9,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $71.51, for a total transaction of $643,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NYSE AVLR opened at $69.26 on Thursday. The company has a market capitalization of $4.74 billion and a PE ratio of -64.13. Avalara Inc has a 52-week low of $28.09 and a 52-week high of $74.90.

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

A number of equities research analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of Avalara from $64.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 10th. KeyCorp upped their price objective on shares of Avalara from $54.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Avalara from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Monday. JMP Securities upped their price objective on shares of Avalara from $49.00 to $67.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a report on Wednesday, February 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Avalara currently has a consensus rating of “Buy” and a consensus target price of $63.38.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its stake in shares of Avalara by 5.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 6,529 shares of the company’s stock worth $203,000 after buying an additional 324 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Avalara by 265.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 658 shares of the company’s stock worth $37,000 after buying an additional 478 shares in the last quarter. Quantamental Technologies LLC lifted its stake in shares of Avalara by 272.3% in the first quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock worth $62,000 after buying an additional 817 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Avalara during the first quarter valued at approximately $47,000. Finally, TD Asset Management Inc. lifted its position in Avalara by 10.9% during the fourth quarter. TD Asset Management Inc. now owns 11,148 shares of the company’s stock valued at $347,000 after purchasing an additional 1,100 shares during the period. Hedge funds and other institutional investors own 73.09% of the company’s stock.

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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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