Carvana (NYSE:CVNA) VP Sells $322,450.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $64.49, for a total value of $322,450.00. Following the sale, the vice president directly owned 136,909 shares of the company’s stock, valued at approximately $8,829,261.41. This represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of NYSE CVNA opened at $68.46 on Friday. The stock’s fifty day simple moving average is $66.60 and its 200 day simple moving average is $69.95. The stock has a market capitalization of $75.09 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.56 and a beta of 3.46. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 earnings per share. As a group, sell-side analysts forecast that Carvana Co. will post 1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Citizens Jmp reduced their price target on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. UBS Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Carvana in a research note on Friday, July 31st. Barclays lowered their price objective on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Gordon Haskett boosted their target price on shares of Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Institutional Trading of Carvana

A number of hedge funds have recently made changes to their positions in CVNA. Trust Asset Management LLC boosted its holdings in shares of Carvana by 400.0% during the second quarter. Trust Asset Management LLC now owns 7,785 shares of the company’s stock worth $512,000 after purchasing an additional 6,228 shares during the period. Annex Advisory Services LLC increased its stake in Carvana by 405.8% in the 2nd quarter. Annex Advisory Services LLC now owns 10,643 shares of the company’s stock valued at $701,000 after buying an additional 8,539 shares during the period. Tema ETFs LLC lifted its position in Carvana by 451.0% in the 2nd quarter. Tema ETFs LLC now owns 13,919 shares of the company’s stock worth $916,000 after buying an additional 11,393 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in Carvana by 400.0% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 21,000 shares of the company’s stock worth $1,382,000 after buying an additional 16,800 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Carvana by 277.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 345,837 shares of the company’s stock valued at $22,763,000 after buying an additional 254,114 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.