Insider Selling: Carvana (NYSE:CVNA) VP Sells $352,100.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.42, for a total transaction of $352,100.00. Following the completion of the transaction, the vice president owned 152,955 shares in the company, valued at $10,771,091.10. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of CVNA stock opened at $66.50 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The company has a market capitalization of $72.94 billion, a P/E ratio of 40.45, a P/E/G ratio of 11.17 and a beta of 3.45. The company’s 50-day simple moving average is $70.50 and its two-hundred day simple moving average is $75.09. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

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

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent research reports. UBS Group reiterated a “buy” rating and set a $104.00 price objective (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $107.40 price objective on shares of Carvana in a research note on Thursday, April 30th. Robert W. Baird set a $88.00 price objective on shares of Carvana in a research note on Friday, May 15th. Evercore increased their price objective on shares of Carvana from $78.00 to $80.00 in a research note on Tuesday, April 28th. Finally, Citigroup reiterated an “outperform” rating on shares of Carvana in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Institutional Investors Weigh In On Carvana

Institutional investors have recently bought and sold shares of the company. Ascentis Independent Advisors acquired a new stake in Carvana in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Carvana in the fourth quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. acquired a new stake in Carvana in the fourth quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new position in shares of Carvana in the fourth quarter worth $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.