Insider Selling: Carvana (NYSE:CVNA) VP Sells 1,000 Shares of Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $317.50, for a total transaction of $317,500.00. Following the transaction, the vice president directly owned 33,891 shares in the company, valued at $10,760,392.50. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Carvana Stock Up 0.0%

Shares of NYSE:CVNA traded up $0.08 during trading hours on Friday, hitting $313.99. The company’s stock had a trading volume of 1,994,512 shares, compared to its average volume of 2,959,618. The firm’s fifty day moving average price is $346.11 and its 200 day moving average price is $372.26. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $486.89. The company has a market capitalization of $68.72 billion, a price-to-earnings ratio of 39.05 and a beta of 3.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana’s stock is going to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $3.12. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. Carvana’s revenue was up 58.0% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Argus raised Carvana to a “strong-buy” rating in a research report on Tuesday, March 3rd. BTIG Research cut their target price on Carvana from $535.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. DA Davidson reduced their target price on shares of Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Citigroup decreased their price target on shares of Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, UBS Group set a $485.00 price target on shares of Carvana in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its stake in shares of Carvana by 124.9% during the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after acquiring an additional 147,683 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of Carvana by 158.0% in the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after purchasing an additional 10,090 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Carvana by 11.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after purchasing an additional 64,424 shares during the last quarter. Gavilan Investment Partners LLC acquired a new stake in Carvana in the 3rd quarter worth approximately $26,030,000. Finally, Strs Ohio boosted its stake in Carvana by 89.9% in the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after purchasing an additional 17,878 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.