Carvana (NYSE:CVNA) VP Sells $308,200.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $61.64, for a total value of $308,200.00. Following the sale, the vice president owned 120,865 shares of the company’s stock, valued at $7,450,118.60. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Carvana stock opened at $62.73 on Thursday. The company has a market cap of $69.03 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.84 and a beta of 3.55. Carvana Co. has a 12 month low of $54.46 and a 12 month 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. The stock’s 50-day moving average is $68.89 and its 200-day moving average is $68.54.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during 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 revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. Equities analysts anticipate that Carvana Co. will post 1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVNA. UBS Group reissued a “buy” rating and issued a $83.00 price objective on shares of Carvana in a research report on Friday, July 31st. BNP Paribas Exane reduced their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. Evercore set a $75.00 price target on shares of Carvana in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 price target on Carvana in a report on Thursday, July 30th. Finally, Hovde Group raised their price objective on Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors raised its position in shares of 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 in the last quarter. State Street Corp boosted its stake in shares of Carvana by 417.1% during the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company’s stock valued at $1,937,436,000 after buying an additional 23,742,422 shares during the last quarter. Sands Capital Management LLC grew its position in shares of Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after buying an additional 751,019 shares in the last quarter. Spruce House Investment Management LLC increased its stake in shares of Carvana by 2.6% in the first quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company’s stock worth $734,077,000 after buying an additional 60,000 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Carvana by 58.6% in the fourth quarter. Capital World Investors now owns 1,278,944 shares of the company’s stock worth $539,740,000 after buying an additional 472,701 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.