Insider Buying: Avalara Inc (AVLR) Director Acquires 9,375 Shares of Stock

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Avalara Inc (NYSE:AVLR) Director Jared R. Vogt purchased 9,375 shares of the stock in a transaction on Tuesday, May 29th. The shares were purchased at an average cost of $17.68 per share, with a total value of $165,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of AVLR opened at $31.78 on Friday. Avalara Inc has a 12 month low of $30.56 and a 12 month high of $59.40. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.18.

Avalara (NYSE:AVLR) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). The business had revenue of $69.50 million during the quarter, compared to the consensus estimate of $66.27 million. The business’s revenue was up 25.7% on a year-over-year basis. Equities analysts forecast that Avalara Inc will post -0.7 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Warburg Pincus LLC acquired a new position in shares of Avalara during the second quarter worth about $745,045,000. Whale Rock Capital Management LLC acquired a new position in shares of Avalara in the second quarter worth about $64,341,000. EastBay Asset Management LLC acquired a new position in shares of Avalara in the third quarter worth about $21,048,000. BlackRock Inc. acquired a new position in shares of Avalara in the second quarter worth about $25,777,000. Finally, Laurion Capital Management LP acquired a new position in shares of Avalara in the second quarter worth about $16,011,000. Institutional investors own 69.35% of the company’s stock.

A number of research analysts have commented on AVLR shares. Goldman Sachs Group boosted their price objective on Avalara to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded Avalara from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, October 3rd. KeyCorp restated a “buy” rating and set a $47.00 price objective on shares of Avalara in a research note on Sunday, October 14th. JMP Securities upgraded Avalara from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Avalara to $38.00 and gave the stock a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Avalara currently has a consensus rating of “Hold” and an average target price of $44.00.

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Avalara Company Profile

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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