Carvana (NYSE:CVNA) Director Ira Platt Sells 15,000 Shares of Stock

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Carvana Trading Up 1.5%

Carvana stock opened at $69.96 on Wednesday. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock’s 50 day simple moving average is $71.47 and its two-hundred day simple moving average is $75.25. The firm has a market cap of $76.73 billion, a PE ratio of 42.55, a P/E/G ratio of 11.63 and a beta of 3.45.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

Key Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana is expanding beyond used cars and has purchased seven new-vehicle franchises since last year, a move that could broaden its revenue base and potentially disrupt the traditional dealership model. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
• Positive Sentiment: Wall Street price targets imply roughly 37% upside for CVNA, and the recent trend in earnings estimate revisions suggests analysts remain constructive on the company’s outlook. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
• Positive Sentiment: Market commentary has also been favorable, with Jim Cramer calling Carvana “a great buy,” which may have helped reinforce bullish sentiment among retail investors. Jim Cramer Notes “Carvana Was a Great Buy for Us”
• Neutral Sentiment: Carvana shares have been rising while the broader market has been weaker, indicating relative strength rather than a clear company-specific catalyst from the latest trading session. Carvana (CVNA) Ascends While Market Falls: Some Facts to Note
• Neutral Sentiment: A director sold 15,000 shares at $67.83, but the transaction was relatively small versus the insider’s remaining holdings and does not necessarily signal a major shift in fundamentals. SEC Form 4 filing for Ira J. Platt

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group restated a “buy” rating and issued a $104.00 price objective (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Friday, March 13th. BTIG Research restated a “buy” rating and issued a $97.00 price objective on shares of Carvana in a research report on Friday, June 5th. Wedbush decreased their target price on Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Finally, DA Davidson increased their target price on Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average target price of $93.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ascentis Independent Advisors purchased a new position in shares of Carvana during the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Carvana during the 4th quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Carvana during the 4th quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new position in Carvana in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.