Carvana (NYSE:CVNA) Director Gregory Sullivan Sells 2,500 Shares

Carvana Co. (NYSE:CVNA) Director Gregory Sullivan sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total transaction of $850,000.00. Following the transaction, the director owned 39,428 shares in the company, valued at approximately $13,405,520. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Carvana Price Performance

NYSE CVNA opened at $327.74 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The stock’s fifty day moving average price is $354.03 and its 200 day moving average price is $336.56. The company has a market cap of $71.30 billion, a price-to-earnings ratio of 74.83, a PEG ratio of 1.18 and a beta of 3.50. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently modified their holdings of CVNA. Envestnet Asset Management Inc. raised its holdings in Carvana by 30.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock valued at $9,617,000 after acquiring an additional 10,753 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Carvana during the first quarter worth approximately $359,000. Arizona State Retirement System lifted its holdings in shares of Carvana by 1.1% during the 1st quarter. Arizona State Retirement System now owns 33,446 shares of the company’s stock valued at $6,993,000 after acquiring an additional 360 shares in the last quarter. Stephens Inc. AR acquired a new stake in shares of Carvana in the first quarter valued at about $303,000. Finally, Florida Financial Advisors LLC acquired a new stake in Carvana during the 1st quarter valued at $304,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the subject of several research reports. Wells Fargo & Company increased their target price on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective on the stock in a research report on Friday, July 25th. Stephens reaffirmed an “overweight” rating and set a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $460.00 target price on shares of Carvana in a research note on Thursday, October 30th. Finally, BTIG Research restated a “buy” rating and set a $450.00 price target on shares of Carvana in a research note on Thursday, October 30th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $414.16.

About Carvana

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.