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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.42, for a total value of $352,100.00. Following the completion of the sale, the vice president directly owned 152,955 shares in the company, valued at approximately $10,771,091.10. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 2.6%

Shares of CVNA stock opened at $63.92 on Thursday. The stock’s fifty day moving average price is $70.24 and its two-hundred day moving average price is $75.05. The company has a market cap of $70.11 billion, a PE ratio of 38.88, a P/E/G ratio of 11.07 and a beta of 3.45. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Equities analysts predict that Carvana Co. will post 1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after purchasing an additional 3,328,115 shares in the last quarter. State Street Corp boosted its position in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVNA shares. Barclays set a $93.00 price target on shares of Carvana and gave the company an “overweight” rating in a research note on Thursday, May 14th. Gordon Haskett raised their price objective on Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Argus cut their price objective on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Morgan Stanley raised their price objective on Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Wedbush cut their price objective on Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Carvana Company Profile

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.