Cloud-based tax solutions provider Avalara (AVLR) came out with a beat in its third quarter results. The Seattle-based company has consistently beat earnings expectations this year. Avalara also projects overall reduction in losses for this fiscal year.

For the quarter ended Sept. 30, Avalara reported an even higher revenue growth of 41% this year compared to 26% the previous year. The company reported a 1 cent per share loss compared to consensus estimates of a 9 cents per share loss. Avalara expects to further reduce its losses from $45 million in company defined operating losses last fiscal year to somewhere

David Swensen (Trades, Portfolio) has been the chief investment officer at Yale University since 1985. He sold shares of the following stocks in the second quarter.

The guru trimmed his DocuSign Inc. (DOCU) holding by 67.07%. The trade had an impact of -8.79% on the portfolio.

The company has a market cap of $7.93 billion and an enterprise value of $7.79 billion.

GuruFocus gives the company a profitability and growth rating of 1 out of 10. The return on equity of -41.43% and return on assets of -14.69% are underperforming

The GuruFocus All-in-One Screener can be used to find insider trades from the past week. Under the Insiders tab, change the settings for All Insider Buying to “$200,000+,” the duration to “June 2019” and All Insider Sales to “$200,000+.”

According to these filters, the following are trades from company insiders this week.

Director Keith A. Meister bought 770,224 shares of MGM Resorts International (MGM) for an average price of $27.78 per share on June 17 and 20.

The American resort operator has a market cap of $14.88 billion and an enterprise value

U.S. stocks were in positive territory on Thursday on news that the Federal Reserve will monitor trade affects on the U.S. economy and decrease the federal funds rate if necessary. The Dow Jones Industrial Average gained 0.71% to 25,720, the S&P 500 Index rose 0.61% to 2,843 and the Nasdaq Composite Index advanced 0.53% to 7,615.

Shares of Smartsheet Inc. (SMAR) climbed more than 10% on Thursday after the company announced first-quarter fiscal 2020 results. Revenue grew 54.7% from the prior-year quarter to $56.19 billion, beating expectations by $1.54 million. A loss of 12 cents per share

Shares of Smartsheet Inc. (SMAR) jumped almost 7.5% after the company posted fourth-quarter results on Tuesday. Revenue grew 58.2% from the prior-year quarter to $52.15 million, beating expectations by $2.43 million. The company posted a loss of 7 cents per share, but beat estimates by 6 cents.

"Our work execution platform continues to empower customers across the globe, our leadership in the expanding Collaborative Work Management market continues to strengthen, and we remain intensely focused on helping enterprises achieve a competitive advantage through digital transformation,"Â CEO Mark Mader, said.

The GAAP operating loss