Carvana (NYSE:CVNA) VP Stephen Palmer Sells 5,000 Shares

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.53, for a total transaction of $342,650.00. Following the transaction, the vice president directly owned 144,934 shares in the company, valued at $9,932,327.02. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Up 1.2%

Shares of CVNA stock opened at $68.71 on Friday. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The stock has a market cap of $75.36 billion, a P/E ratio of 41.80, a price-to-earnings-growth ratio of 11.45 and a beta of 3.46. The stock has a 50 day simple moving average of $70.44 and a 200 day simple moving average of $73.93. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.12 billion. On average, research analysts predict that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVNA. UBS Group restated a “buy” rating and issued a $104.00 price target (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. Jefferies Financial Group cut their price objective on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of Carvana in a research note on Friday, June 12th. Morgan Stanley raised their target price on shares of Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, DA Davidson boosted their target price on shares of 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 issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after purchasing an additional 3,328,115 shares during the last quarter. State Street Corp lifted its stake in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors lifted its stake in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after buying an additional 1,407,762 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after buying an additional 1,382,852 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.