Mcfarlane Scott M sold 12,000 shares in Avalara, Inc. (NYSE:AVLR) for $706,863 in transaction occurred on 2019/01/15. After making this transaction, the insider owns a direct stake of 457,080 shares, worth $36,057,082, as per the last closing price. On 2018/12/21 Mcfarlane Scott M, dumped 100,000 shares at an average price of $30.09 per share. The selling total is valued at $36,057,082.
Separately, it had been reported that some other AVLR insiders also took part of the insider trading activity. Director, Vogt Jared R. had invested in 9,375 shares for $1,124,660 through a trade on 2018/05/29. Following this activity, the insider holds 165,750 shares worth $57,368,907 as of recent close. Wall Street’s most bullish Avalara, Inc. (NYSE:AVLR) analysts are predicting the share price to blow past $50 per share during the next 12 months. The current median share price forecast by them is $41, suggesting that the stock could increase -19.62% in that time frame. The average price target of $43 calls for a nearly -15.7% increase in the stock price.
AVLR’s 50 day simple moving average (SMA 50) price is $35.98. The company’s stock currently has a total float of 44.89M shares. Its weekly volatility is hovering around 6.36% and felt 4.42% volatility in price over a month. On the upside, the share price will test short term resistance at around $53.14. On a downside, the stock is likely to find some support, which begins at $47.94. The failure to get near-term support could push it to $44.87.
It had seen a new analyst call from Goldman, which initiated the stock at Buy on February 01. Analysts at BofA/Merrill, shed their negative views on January 07 by lifting it fromNeutral to Buy. The stock won favor of JP Morgan analysts who expressed their confidence in it using an upgrade from Neutral to Overweight on December 13. BofA/Merrill, reiterated their call for Neutral, on November 09. On the other hand, they had set new target price to $42 versus $50.
Also, it is trading at rather expensive levels at just over 27.72x price/book and 13.12x price/sales. Compared to others, Avalara, Inc. is in a different league with regards to profitability, having net margins of -31.5%. To put some perspective around this, the industry’s average net margin is 11.73%. AVLR’s ROE is 59.3%, which is also considerably better than the industry’s ROE of 15.52%. It’s also very liquid in the near term, with a current ratio of 1.2. The stock has a debt/capital of 0.
AVLR last reported earnings on February 12, 2019 when it released Jun-18 results that exceeded expectations. The company raked in -$0.19 per share, -98.95% change on the same period last year. That was better than consensus for -$0.23. Revenue for the recent quarter stood at $76.92 million, down -40584% on last year and above the $70.36 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $70.6 million to $78 million, which should be compared with $0 generated last year. EPS is seen in a range of -$0.18 to -$0.12, against the 0 reported a year ago.