Carvana Co. (NYSE:CVNA – Get Free Report) Director Ira Platt sold 15,000 shares of Carvana stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the transaction, the director directly owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Carvana Price Performance
CVNA stock opened at $62.82 on Thursday. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $71.47 and a 200 day moving average price of $75.19. The stock has a market cap of $68.91 billion, a PE ratio of 38.21, a P/E/G ratio of 11.82 and a beta of 3.45.
Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Equities research analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.
Institutional Investors Weigh In On Carvana
Key Stories Impacting Carvana
Here are the key news stories impacting Carvana this week:
- Positive Sentiment: Carvana is expanding into new vehicle sales, with seven new-vehicle franchises already acquired; investors may view this as a meaningful growth opportunity that broadens the company’s addressable market. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
- Positive Sentiment: Analyst commentary remains constructive, with price targets implying notable upside and recent estimate revisions suggesting Wall Street still sees earnings growth potential for CVNA. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
- Positive Sentiment: Several bullish articles argue Carvana’s turnaround is still intact, citing strong revenue growth, expanding margins, and operational efficiencies that could support further upside. Carvana: 40% Growth, Expanding Margins, And More Upside Ahead
- Neutral Sentiment: A director sold 15,000 shares, but the transaction was relatively modest versus the insider’s remaining stake and does not clearly indicate a major change in fundamentals. SEC Form 4 filing for Ira J. Platt
- Negative Sentiment: CarMax’s earnings report and commentary on continued low margins are weighing on sentiment for Carvana, since investors are extrapolating sector-wide pressure onto CVNA. Carvana Stock Falls As CarMax Warns Of Persistent Low Margins
- Negative Sentiment: Some commentary warns that the used-car market is softening and that credit-related risks could hurt margins and financing performance, which is fueling selling pressure in CVNA. CarMax Drops 7% Despite Earnings Beat, Carvana Tumbles 8% on Used-Car Margin, Credit Fears
- Negative Sentiment: Recent articles have also taken a skeptical view of Carvana’s turnaround story, arguing there may be hidden risks behind the bullish narrative. Carvana: The Turnaround Story Has A Hidden Trap
Wall Street Analyst Weigh In
A number of research firms recently commented on CVNA. Morgan Stanley lifted their price target on shares of Carvana from $90.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of Carvana in a report on Friday, June 12th. Bank of America lifted their price objective on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Argus decreased their price objective on shares of Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Finally, BNP Paribas Exane lifted their price objective on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $93.14.
View Our Latest Report on Carvana
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.
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