Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells $859,775.00 in Stock

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $343.91, for a total transaction of $859,775.00. Following the completion of the sale, the director now directly owns 51,928 shares of the company’s stock, valued at $17,858,558.48. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Price Performance

Shares of Carvana stock opened at $296.71 on Friday. The stock has a market capitalization of $63.54 billion, a price-to-earnings ratio of 188.99 and a beta of 3.65. Carvana Co. has a 1-year low of $100.05 and a 1-year high of $351.43. The firm has a fifty day simple moving average of $272.91 and a 200-day simple moving average of $241.05. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on CVNA shares. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. JMP Securities decreased their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Wedbush raised shares of Carvana to a “hold” rating in a research report on Thursday, May 8th. Royal Bank of Canada boosted their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their target price on shares of Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $280.35.

Hedge Funds Weigh In On Carvana

Several large investors have recently bought and sold shares of CVNA. Quent Capital LLC acquired a new position in Carvana during the 4th quarter valued at $28,000. Brooklyn Investment Group raised its stake in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana in the fourth quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the first quarter valued at $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.