Carvana (NYSE:CVNA) VP Stephen Palmer Sells 1,000 Shares

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of Carvana stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the completion of the transaction, the vice president owned 43,513 shares in the company, valued at $16,976,161.82. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Carvana Stock Down 0.2%

Shares of CVNA stock opened at $394.49 on Friday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The stock’s fifty day moving average price is $363.74 and its 200 day moving average price is $307.57. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a price-to-earnings-growth ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently modified their holdings of the stock. Hilltop National Bank acquired a new position in shares of Carvana in the 2nd quarter valued at about $25,000. Brooklyn Investment Group lifted its holdings in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the 1st quarter valued at about $33,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CVNA shares. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research note on Friday, July 25th. Citigroup restated an “outperform” rating on shares of Carvana in a research note on Thursday, July 31st. DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 price target on Carvana in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their price target on Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.94.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.