Carvana (NYSE:CVNA) VP Stephen Palmer Sells 1,000 Shares

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the completion of the transaction, the vice president directly owned 43,513 shares in the company, valued at $16,976,161.82. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Carvana Price Performance

Carvana stock opened at $376.56 on Friday. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The firm has a market capitalization of $81.04 billion, a P/E ratio of 94.38, a PEG ratio of 1.23 and a beta of 3.55. The business has a 50-day moving average of $364.64 and a 200-day moving average of $309.94. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm earned ($0.05) EPS. Carvana’s quarterly revenue was up 41.9% compared to the same quarter last year. On average, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVNA. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a research report on Friday, July 25th. Citigroup restated an “outperform” rating on shares of Carvana in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. JMP Securities lifted their price objective on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Finally, Jefferies Financial Group set a $475.00 target price on Carvana and gave the stock a “buy” rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $404.94.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in shares of Carvana in the second quarter valued at approximately $25,000. Brooklyn Investment Group grew its position in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Carvana in the 1st quarter valued at $33,000. SJS Investment Consulting Inc. lifted its position in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana during the 2nd quarter worth about $38,000. Institutional investors 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.