Carvana (NYSE:CVNA) VP Stephen Palmer Sells 5,000 Shares

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $357,750.00. Following the completion of the transaction, the vice president owned 128,886 shares in the company, valued at approximately $9,221,793.30. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of CVNA opened at $73.21 on Friday. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The firm’s fifty day simple moving average is $68.65 and its two-hundred day simple moving average is $68.27. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock has a market capitalization of $80.56 billion, a P/E ratio of 40.49, a price-to-earnings-growth ratio of 2.17 and a beta of 3.49.

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 during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business’s quarterly revenue was up 52.4% on a year-over-year basis. During the same period last year, the company posted $1.51 EPS. As a group, analysts predict that Carvana Co. will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Hovde Group raised their price objective on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. UBS Group reissued a “buy” rating and set a $83.00 target price on shares of Carvana in a research note on Friday, July 31st. Morgan Stanley set a $90.00 price target on shares of Carvana and gave the company an “overweight” rating in a research note on Thursday, July 30th. BTIG Research reiterated a “buy” rating and set a $87.00 price objective on shares of Carvana in a report on Tuesday, August 18th. Finally, Wells Fargo & Company set a $80.00 target price on Carvana and gave the company an “overweight” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Institutional Trading of Carvana

Hedge funds have recently bought and sold shares of the business. Corient Private Wealth LP raised its holdings in Carvana by 610.0% during the second quarter. Corient Private Wealth LP now owns 43,568 shares of the company’s stock worth $2,868,000 after buying an additional 37,432 shares during the last quarter. Optimize Financial Inc. raised its holdings in shares of Carvana by 398.3% in the 2nd quarter. Optimize Financial Inc. now owns 10,050 shares of the company’s stock worth $661,000 after acquiring an additional 8,033 shares during the last quarter. Tucker Asset Management LLC bought a new position in Carvana in the 2nd quarter valued at about $397,000. Amundi boosted its stake in Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock valued at $159,353,000 after purchasing an additional 1,916,349 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Carvana by 306.5% during the 2nd quarter. HighTower Advisors LLC now owns 22,741 shares of the company’s stock worth $1,497,000 after purchasing an additional 17,146 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.