Insider Selling: Carvana (NYSE:CVNA) VP Sells $358,550.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $71.71, for a total value of $358,550.00. Following the transaction, the vice president directly owned 112,840 shares of the company’s stock, valued at approximately $8,091,756.40. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 6.9%

CVNA opened at $72.18 on Friday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a market cap of $79.44 billion, a P/E ratio of 38.94, a PEG ratio of 1.99 and a beta of 3.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.43 and a current ratio of 4.05. The business’s 50-day simple moving average is $65.82 and its 200-day simple moving average is $69.03.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). The business had revenue of $8.04 billion for the quarter, compared to analyst estimates of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. Carvana’s revenue was up 42.4% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. As a group, equities research analysts expect that Carvana Co. will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the company. Maryland State Retirement & Pension System raised its position in Carvana by 11.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 42,293 shares of the company’s stock worth $2,645,000 after buying an additional 4,178 shares during the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Carvana in the 3rd quarter worth $66,000. Jefferies Financial Group Inc. boosted its holdings in shares of Carvana by 385.2% in the third quarter. Jefferies Financial Group Inc. now owns 24,598 shares of the company’s stock valued at $1,538,000 after acquiring an additional 19,528 shares in the last quarter. First Command Advisory Services Inc. boosted its holdings in shares of Carvana by 286.0% in the third quarter. First Command Advisory Services Inc. now owns 3,482 shares of the company’s stock valued at $218,000 after acquiring an additional 2,580 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in shares of Carvana in the third quarter valued at about $405,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVNA has been the topic of several recent analyst reports. Barclays increased their price target on shares of Carvana from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Needham & Company LLC reduced their price objective on shares of Carvana from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. Hovde Group upped their price objective on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings lowered Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.09.

About Carvana

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.