William Ingram Sells 25,000 Shares of Avalara Inc (AVLR) Stock
Avalara Inc (NYSE:AVLR) insider William Ingram sold 25,000 shares of Avalara stock in a transaction on Friday, May 10th. The stock was sold at an average price of $71.29, for a total value of $1,782,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of NYSE:AVLR opened at $69.26 on Thursday. The stock has a market cap of $4.74 billion and a P/E ratio of -64.13. Avalara Inc has a 12-month low of $28.09 and a 12-month high of $74.90.
Avalara (NYSE:AVLR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The firm had revenue of $85.00 million during the quarter, compared to the consensus estimate of $78.67 million. Avalara had a negative return on equity of 32.45% and a negative net margin of 23.56%. The firm’s revenue was up 38.4% compared to the same quarter last year. Analysts predict that Avalara Inc will post -0.55 earnings per share for the current fiscal year.
Several research analysts have recently commented on the company. Needham & Company LLC lifted their price target on Avalara from $64.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 10th. KeyCorp raised their price objective on Avalara from $54.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised Avalara from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday. JMP Securities raised their price objective on Avalara from $49.00 to $67.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on Avalara from $38.00 to $64.00 and gave the stock a “positive” rating in a research report on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $63.38.
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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