Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan Sells 5,000 Shares

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $120.90, for a total value of $604,500.00. Following the transaction, the director now owns 58,407 shares in the company, valued at $7,061,406.30. The sale was disclosed in a document filed with the SEC, which is available at this link.

Carvana Price Performance

Shares of NYSE:CVNA traded down $2.27 on Wednesday, hitting $114.39. The company’s stock had a trading volume of 3,649,464 shares, compared to its average volume of 6,279,654. Carvana Co. has a 1 year low of $10.16 and a 1 year high of $129.00. The company has a market capitalization of $23.10 billion, a PE ratio of 51.17 and a beta of 3.28. The company has a 50-day simple moving average of $83.59 and a 200 day simple moving average of $57.44.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. Carvana’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.97) earnings per share. On average, equities research analysts expect that Carvana Co. will post -3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVNA. Evercore ISI reduced their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $130.00 in a research report on Thursday, May 2nd. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Carvana in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $73.44.

Institutional Trading of Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Blue Trust Inc. purchased a new position in shares of Carvana during the fourth quarter valued at about $29,000. Parallel Advisors LLC boosted its position in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Carvana during the 3rd quarter worth approximately $34,000. Tidemark LLC bought a new position in shares of Carvana in the 4th quarter worth approximately $50,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after purchasing an additional 1,103 shares during the period. 56.71% of the stock is owned by institutional investors.

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.