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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of Carvana stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $357,750.00. Following the sale, the vice president owned 128,886 shares of the company’s stock, valued at approximately $9,221,793.30. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 1.3%

Carvana stock traded down $0.95 during trading hours on Thursday, hitting $73.21. The company had a trading volume of 5,865,145 shares, compared to its average volume of 14,093,805. The company has a 50-day moving average price of $68.51 and a two-hundred day moving average price of $68.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The firm has a market cap of $80.56 billion, a P/E ratio of 40.49, a P/E/G ratio of 2.08 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. Carvana’s quarterly revenue was up 52.4% on a year-over-year basis. On average, sell-side analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVNA. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 price objective on shares of Carvana in a research note on Friday, July 31st. Citizens Jmp reduced their target price on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, July 30th. Barclays cut 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. DA Davidson set a $67.00 target price on shares of Carvana in a research report on Thursday, July 30th. Finally, Citigroup restated a “market outperform” rating on shares of Carvana in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after buying an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after buying an additional 181 shares during the last quarter. Cerity Partners LLC increased its position in shares of Carvana by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after acquiring an additional 1,226 shares during the period. AXA S.A. increased its position in shares of Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock valued at $1,433,000 after acquiring an additional 3,288 shares during the period. Finally, NewEdge Advisors LLC raised its stake in Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after acquiring an additional 825 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.