Avalara Inc (NYSE:AVLR) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 2,281,900 shares, a decline of 11.8% from the May 30th total of 2,587,300 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 2.0 days.
Shares of AVLR stock opened at $83.16 on Friday. The business’s fifty day simple moving average is $72.38. Avalara has a 1-year low of $28.09 and a 1-year high of $84.48.
Avalara (NYSE:AVLR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.15. Avalara had a negative return on equity of 32.45% and a negative net margin of 23.56%. The firm had revenue of $85.00 million for the quarter, compared to analyst estimates of $78.67 million. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. Analysts expect that Avalara will post -0.55 EPS for the current fiscal year.
In other news, insider Scott M. Mcfarlane sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $81.95, for a total value of $983,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Ingram sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $71.29, for a total value of $1,782,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,927,207 shares of company stock worth $622,339,333.
A number of hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC grew its holdings in Avalara by 272.3% during the first quarter. Quantamental Technologies LLC now owns 1,117 shares of the company’s stock worth $62,000 after acquiring an additional 817 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Avalara in the first quarter valued at $89,000. Metropolitan Life Insurance Co. NY grew its holdings in Avalara by 209.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,222 shares of the company’s stock valued at $100,000 after purchasing an additional 2,180 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Avalara in the first quarter valued at $131,000. Finally, Northern Trust Corp grew its holdings in Avalara by 2.5% in the fourth quarter. Northern Trust Corp now owns 96,878 shares of the company’s stock valued at $3,017,000 after purchasing an additional 2,388 shares during the last quarter. 78.13% of the stock is currently owned by hedge funds and other institutional investors.
AVLR has been the topic of a number of recent research reports. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 target price (down previously from $45.00) on shares of Synaptics in a report on Friday, May 10th. KeyCorp reissued a “buy” rating and issued a $65.00 target price on shares of Talend in a report on Wednesday, May 8th. Finally, JMP Securities upped their price objective on Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $66.14.
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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