Insider Selling: Carvana (NYSE:CVNA) VP Sells $322,450.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $64.49, for a total value of $322,450.00. Following the transaction, the vice president owned 136,909 shares in the company, valued at approximately $8,829,261.41. This trade represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

CVNA traded up $1.78 during trading on Tuesday, hitting $67.91. The stock had a trading volume of 7,785,858 shares, compared to its average volume of 14,964,482. The company has a 50 day moving average price of $66.81 and a 200-day moving average price of $70.45. The firm has a market cap of $74.49 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 2.30 and a beta of 3.46. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 EPS. As a group, research analysts predict that Carvana Co. will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several recent research reports. Morgan Stanley set a $90.00 target price on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Evercore set a $75.00 price target on Carvana in a research report on Thursday, July 30th. Stephens upped their target price on Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Institutional Investors Weigh In On Carvana

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after buying an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after acquiring an additional 181 shares in the last quarter. Cerity Partners LLC raised its stake in Carvana by 28.8% during the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after acquiring an additional 1,226 shares in the last quarter. AXA S.A. boosted its stake in shares of Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock valued at $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in Carvana by 9.1% in the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after buying an additional 825 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.