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

Carvana Co. (NYSE:CVNA – Get Free Report) VP Stephen Palmer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.53, for a total transaction of $342,650.00. Following the transaction, the vice president directly owned 144,934 shares of the company’s stock, valued at $9,932,327.02. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Up 1.2%

Shares of CVNA traded up $0.84 during mid-day trading on Thursday, hitting $68.71. 8,379,061 shares of the company’s stock were exchanged, compared to its average volume of 15,753,974. The company has a market cap of $75.36 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 11.11 and a beta of 3.46. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The stock’s 50-day moving average is $70.44 and its 200-day moving average is $73.93.

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Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. On average, sell-side analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Institutional Trading of Carvana

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

Analyst Ratings Changes

A number of analysts recently weighed in on CVNA shares. Zacks Research upgraded shares of Carvana from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price target on shares of Carvana in a report on Friday, June 5th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Friday, March 13th. BTIG Research reaffirmed a “buy” rating and set a $97.00 price objective on shares of Carvana in a research report on Friday, June 5th. Finally, Gordon Haskett boosted their target price on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Read Our Latest Research Report on Carvana

About Carvana

(Get Free Report)

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.

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