Avalara Inc (NYSE:AVLR) Director Edward A. Gilhuly sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $85.81, for a total transaction of $21,452,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of AVLR traded up $0.25 during mid-day trading on Thursday, reaching $86.25. 11,962 shares of the stock traded hands, compared to its average volume of 1,082,088. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of -79.98 and a beta of 0.59. The stock has a fifty day simple moving average of $83.31 and a 200 day simple moving average of $65.49. Avalara Inc has a 12-month low of $28.09 and a 12-month high of $94.31.

Avalara (NYSE:AVLR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. The company had revenue of $91.30 million for the quarter, compared to analyst estimates of $84.63 million. Avalara had a negative net margin of 20.13% and a negative return on equity of 23.05%. The business’s quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. As a group, research analysts predict that Avalara Inc will post -0.65 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of AVLR. Whale Rock Capital Management LLC acquired a new stake in shares of Avalara during the second quarter worth approximately $203,007,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Avalara by 442.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,768,309 shares of the company’s stock worth $154,444,000 after buying an additional 2,258,145 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Avalara by 84.8% during the second quarter. Vanguard Group Inc. now owns 4,343,045 shares of the company’s stock worth $313,568,000 after buying an additional 1,992,677 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Avalara during the second quarter worth approximately $136,111,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of Avalara during the first quarter worth approximately $101,595,000. Institutional investors own 80.47% of the company’s stock.

Several research analysts recently commented on AVLR shares. William Blair started coverage on shares of Avalara in a report on Wednesday, August 7th. They issued an “outperform” rating and a $5.40 price target on the stock. JMP Securities raised their price target on shares of Avalara from $49.00 to $67.00 and gave the company a “market outperform” rating in a report on Wednesday, May 8th. Stifel Nicolaus upgraded shares of Avalara from a “hold” rating to a “buy” rating and raised their price target for the company from $52.00 to $100.00 in a report on Thursday, August 8th. Zacks Investment Research lowered shares of Avalara from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, KeyCorp restated an “overweight” rating and issued a $101.00 price target (up previously from $74.00) on shares of Avalara in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $82.44.

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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