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 Carvana stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $120.90, for a total transaction of $604,500.00. Following the sale, 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 through this link.

Carvana Price Performance

Shares of NYSE CVNA opened at $114.39 on Thursday. The company has a market cap of $23.10 billion, a PE ratio of 50.17 and a beta of 3.28. The company has a 50-day simple moving average of $84.37 and a 200-day simple moving average of $57.84. Carvana Co. has a 12 month low of $10.16 and a 12 month high of $129.00.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business earned ($0.97) EPS. Carvana’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post -3.05 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the subject of several research reports. JMP Securities upped their price target on shares of Carvana from $80.00 to $135.00 and gave the company a “market outperform” rating in a research report on Friday, May 3rd. Morgan Stanley increased their price objective on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Wells Fargo & Company lifted their target price on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upgraded Carvana from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $130.00 in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.60.

Institutional Inflows and Outflows

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

Carvana Company Profile

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.