Avalara (NYSE:AVLR) Sees Unusually-High Trading Volume

Avalara, Inc. (NYSE:AVLRGet Rating) saw unusually-high trading volume on Wednesday . Approximately 31,283 shares changed hands during mid-day trading, a decline of 98% from the previous session’s volume of 2,005,406 shares.The stock last traded at $92.66 and had previously closed at $92.70.

Wall Street Analyst Weigh In

AVLR has been the topic of a number of research analyst reports. Raymond James downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a research note on Monday, August 15th. Mizuho downgraded shares of Avalara to a “neutral” rating and set a $93.50 target price on the stock. in a research note on Tuesday, August 9th. Needham & Company LLC downgraded shares of Avalara to a “hold” rating in a research note on Monday, August 15th. Evercore ISI cut their target price on shares of Avalara to $93.50 in a research note on Monday, August 15th. Finally, JMP Securities downgraded shares of Avalara from an “outperform” rating to a “market perform” rating in a research note on Monday, August 29th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $120.08.

Avalara Stock Down 0.1 %

The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The company has a market cap of $8.17 billion, a price-to-earnings ratio of -52.02 and a beta of 1.05. The firm’s fifty day simple moving average is $90.16 and its 200 day simple moving average is $86.65.

Avalara (NYSE:AVLRGet Rating) last issued its earnings results on Monday, August 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.16). Avalara had a negative net margin of 19.76% and a negative return on equity of 12.44%. The company had revenue of $208.60 million during the quarter, compared to analyst estimates of $209.19 million. During the same quarter in the previous year, the company posted ($0.25) EPS. The company’s quarterly revenue was up 23.4% on a year-over-year basis. Sell-side analysts predict that Avalara, Inc. will post -1.41 earnings per share for the current year.

Insider Activity

In related news, insider Scott M. Mcfarlane sold 20,000 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $85.07, for a total transaction of $1,701,400.00. Following the completion of the sale, the insider now owns 584,892 shares in the company, valued at approximately $49,756,762.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 60,000 shares of company stock worth $5,383,200. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Avalara

Large investors have recently bought and sold shares of the business. Brown Advisory Inc. raised its position in Avalara by 20.4% during the 2nd quarter. Brown Advisory Inc. now owns 5,583 shares of the company’s stock worth $394,000 after buying an additional 947 shares during the last quarter. Verition Fund Management LLC purchased a new position in Avalara during the 2nd quarter worth $336,000. Captrust Financial Advisors raised its position in Avalara by 71.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,857 shares of the company’s stock worth $343,000 after buying an additional 2,023 shares during the last quarter. Legal & General Group Plc raised its position in Avalara by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 299,209 shares of the company’s stock worth $21,124,000 after buying an additional 24,155 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its position in Avalara by 288.8% during the 2nd quarter. ExodusPoint Capital Management LP now owns 35,675 shares of the company’s stock worth $2,519,000 after buying an additional 26,499 shares during the last quarter. Institutional investors and hedge funds own 90.68% of the company’s stock.

Avalara Company Profile

(Get Rating)

Avalara, Inc, together with its subsidiaries, provides cloud-based solutions for transaction tax compliance worldwide. The company 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.

Further Reading

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