Avalara Inc (NYSE:AVLR) insider Scott M. Mcfarlane sold 102,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $83.75, for a total value of $8,542,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of AVLR stock opened at $85.32 on Friday. Avalara Inc has a fifty-two week low of $28.09 and a fifty-two week high of $94.31. The stock’s 50-day moving average is $82.18 and its two-hundred day moving average is $64.73. The firm has a market cap of $6.37 billion, a P/E ratio of -79.00 and a beta of 0.59.
Avalara (NYSE:AVLR) last issued its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.08. Avalara had a negative return on equity of 23.05% and a negative net margin of 20.13%. The company had revenue of $91.30 million for the quarter, compared to analyst estimates of $84.63 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue was up 42.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Avalara Inc will post -0.65 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Verition Fund Management LLC acquired a new position in shares of Avalara during the 2nd quarter valued at about $1,417,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Avalara by 47.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 971 shares of the company’s stock valued at $71,000 after buying an additional 313 shares during the last quarter. United Services Automobile Association acquired a new stake in Avalara in the 2nd quarter valued at approximately $486,000. Voloridge Investment Management LLC grew its holdings in Avalara by 4.3% in the 2nd quarter. Voloridge Investment Management LLC now owns 25,341 shares of the company’s stock valued at $1,830,000 after buying an additional 1,039 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in Avalara in the 2nd quarter valued at approximately $203,007,000. 80.07% of the stock is currently owned by institutional investors.
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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