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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was 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 of the company’s stock, valued at approximately $9,221,793.30. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Up 1.7%

NYSE:CVNA opened at $74.65 on Friday. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The firm has a market cap of $82.15 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. 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 stock has a fifty day moving average price of $68.89 and a 200 day moving average price of $68.31.

Carvana (NYSE:CVNA) last issued its quarterly earnings results 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 company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.Carvana’s revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 EPS. Sell-side analysts anticipate that Carvana Co. will post 1.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. purchased a new stake in Carvana in the fourth quarter valued at $29,000. Motiv8 Investments LLC purchased a new position in shares of Carvana during the fourth quarter worth about $33,000. Ascentis Independent Advisors purchased a new position in shares of Carvana during the first quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Carvana during the second quarter worth about $38,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $80.00 price target on shares of Carvana in a research note on Friday, July 31st. Citizens Jmp lowered their target price on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research note on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. Wells Fargo & Company set a $80.00 price target on Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Carvana in a research report on Thursday, July 30th. One 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’s stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average price target of $84.14.

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.