Carvana (NYSE:CVNA) VP Stephen Palmer Sells 1,000 Shares of Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $305.00, for a total value of $305,000.00. Following the transaction, the vice president directly owned 41,868 shares in the company, valued at approximately $12,769,740. This represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of NYSE CVNA opened at $309.91 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The firm has a market cap of $66.69 billion, a price-to-earnings ratio of 70.76, a P/E/G ratio of 1.20 and a beta of 3.50. The business’s 50-day simple moving average is $360.77 and its 200-day simple moving average is $333.43. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS. As a group, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares during the period. Vanguard Group Inc. lifted its position in shares of Carvana by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after acquiring an additional 229,387 shares during the period. State Street Corp lifted its position in shares of Carvana by 15.0% in the 2nd quarter. State Street Corp now owns 2,765,046 shares of the company’s stock worth $931,710,000 after acquiring an additional 361,624 shares during the period. Geode Capital Management LLC lifted its position in shares of Carvana by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after acquiring an additional 221,161 shares during the period. Finally, Sands Capital Management LLC lifted its position in shares of Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after acquiring an additional 840,096 shares during the period. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVNA. JMP Securities increased their price objective on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Gordon Haskett initiated coverage on Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 target price on the stock. Stephens reaffirmed an “overweight” rating and issued a $440.00 target price on shares of Carvana in a report on Tuesday, September 23rd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $460.00 target price on shares of Carvana in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $415.50.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.