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

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

Carvana Price Performance

Shares of Carvana stock traded down $0.62 during midday trading on Tuesday, hitting $71.38. 9,959,162 shares of the company were exchanged, compared to its average volume of 13,071,145. The firm has a 50 day simple moving average of $65.83 and a 200-day simple moving average of $69.31. 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 firm has a market cap of $78.55 billion, a P/E ratio of 35.84, a PEG ratio of 1.75 and a beta of 3.55. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 36.63%. The company had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business’s revenue was up 42.4% on a year-over-year basis. Research analysts forecast that Carvana Co. will post 1.59 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Ascentis Independent Advisors acquired a new position in Carvana in the first quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings 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 during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Carvana in the first quarter valued at $36,000. Leonteq Securities AG increased its stake in shares of Carvana by 106.8% in the first quarter. Leonteq Securities AG now owns 122 shares of the company’s stock valued at $38,000 after buying an additional 1,912 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Carvana by 114.1% in the first quarter. Root Financial Partners LLC now owns 289 shares of the company’s stock valued at $91,000 after buying an additional 154 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVNA shares. Wells Fargo & Company restated an “overweight” rating and issued a $75.00 target price (down from $80.00) on shares of Carvana in a research note on Friday, October 23rd. Barclays increased their target price on shares of Carvana from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group reissued a “buy” rating on shares of Carvana in a report on Thursday, October 29th. Weiss Ratings lowered shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Finally, BTIG Research set a $82.00 price objective on shares of Carvana and gave the stock a “buy” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus price target of $82.09.

Carvana Company Profile

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.