Avalara (NYSE:AVLR) Stock Price Up 5.8%

Avalara Inc (NYSE:AVLR)’s stock price rose 5.8% on Thursday . The stock traded as high as $135.23 and last traded at $134.70. Approximately 569,124 shares traded hands during trading, a decline of 39% from the average daily volume of 929,855 shares. The stock had previously closed at $127.34.

AVLR has been the topic of several recent research reports. Raymond James lifted their target price on shares of Avalara from $110.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Piper Sandler lifted their price target on shares of Avalara from $113.00 to $138.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. JMP Securities lifted their price target on shares of Avalara from $106.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 24th. Canaccord Genuity lifted their price target on shares of Avalara from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Goldman Sachs Group lifted their price target on shares of Avalara from $117.00 to $154.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $135.64.

The company’s 50-day moving average price is $123.92 and its two-hundred day moving average price is $108.49. The company has a market cap of $10.72 billion, a P/E ratio of -207.23 and a beta of 0.76.

Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. Avalara had a negative net margin of 11.54% and a negative return on equity of 9.02%. The business had revenue of $116.50 million during the quarter, compared to the consensus estimate of $110.36 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, analysts forecast that Avalara Inc will post -0.72 EPS for the current year.

In related news, insider Ross Tennenbaum sold 926 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $137.81, for a total transaction of $127,612.06. Following the completion of the sale, the insider now owns 69,898 shares of the company’s stock, valued at approximately $9,632,643.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott M. Mcfarlane sold 30,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $119.33, for a total transaction of $3,579,900.00. Following the sale, the insider now directly owns 859,223 shares of the company’s stock, valued at approximately $102,531,080.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,778 shares of company stock valued at $14,234,874. Insiders own 4.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AVLR. FIL Ltd acquired a new position in Avalara during the 2nd quarter valued at about $27,000. Tobam acquired a new stake in shares of Avalara in the 2nd quarter worth approximately $37,000. Asset Management One Co. Ltd. acquired a new stake in shares of Avalara in the 1st quarter worth approximately $38,000. CSat Investment Advisory L.P. acquired a new stake in shares of Avalara in the 2nd quarter worth approximately $46,000. Finally, Price Wealth LLC acquired a new stake in shares of Avalara in the 2nd quarter worth approximately $47,000. 90.41% of the stock is owned by hedge funds and other institutional investors.

Avalara Company Profile (NYSE:AVLR)

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.

Featured Story: What is a back-end load?

Receive News & Ratings for Avalara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avalara and related companies with MarketBeat.com's FREE daily email newsletter.