Avalara Inc (NYSE:AVLR) Director Benjamin J. Goux sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.26, for a total transaction of $479,340.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NYSE AVLR traded down $0.13 during mid-day trading on Thursday, reaching $54.67. The company’s stock had a trading volume of 839,713 shares, compared to its average volume of 983,272. The stock has a market capitalization of $3.81 billion and a price-to-earnings ratio of -50.62. Avalara Inc has a 1-year low of $28.09 and a 1-year high of $59.40.

Avalara (NYSE:AVLR) last released its quarterly earnings data on Tuesday, February 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $71.24 million. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. Equities research analysts expect that Avalara Inc will post -0.86 earnings per share for the current fiscal year.

AVLR has been the subject of a number of analyst reports. Bank of America raised shares of Avalara from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Zacks Investment Research cut shares of Avalara from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. JPMorgan Chase & Co. upgraded shares of Avalara from a “neutral” rating to an “overweight” rating and set a $30.08 target price for the company in a research report on Thursday, December 13th. KeyCorp reiterated an “overweight” rating and issued a $54.00 target price (up from $48.00) on shares of Avalara in a research report on Tuesday, February 12th. Finally, JMP Securities increased their target price on shares of Avalara from $40.00 to $49.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.00.

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in shares of Avalara during the 3rd quarter worth approximately $46,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Avalara in the 4th quarter valued at $71,000. JPMorgan Chase & Co. increased its holdings in shares of Avalara by 127.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,121 shares of the company’s stock valued at $109,000 after acquiring an additional 1,751 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in shares of Avalara by 209.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock valued at $100,000 after acquiring an additional 2,180 shares during the period. Finally, Convergence Investment Partners LLC acquired a new position in shares of Avalara in the 4th quarter valued at $126,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

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About Avalara

Avalara, Inc provides transaction tax compliance cloud-based solutions 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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