Carvana Co. (NYSE:CVNA – Get Free Report) Director Ira Platt sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $71.74, for a total value of $2,152,200.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at $13,377,357.80. This trade represents a 13.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Carvana Stock Up 9.0%
CVNA opened at $77.67 on Thursday. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43. The stock has a market cap of $85.47 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.83 and a beta of 3.66. The stock’s 50 day moving average price is $65.85 and its 200 day moving average price is $69.13.
Carvana (NYSE:CVNA – Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 34.77%. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s revenue was up 42.4% on a year-over-year basis. As a group, research analysts predict that Carvana Co. will post 1.59 earnings per share for the current year.
Hedge Funds Weigh In On Carvana
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Lido Advisors LLC bought a new stake in Carvana in the third quarter worth about $405,000. Keybank National Association OH lifted its holdings in Carvana by 34.7% in the 3rd quarter. Keybank National Association OH now owns 6,024 shares of the company’s stock valued at $377,000 after acquiring an additional 1,553 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in Carvana by 0.3% in the 3rd quarter. New York Life Investment Management LLC now owns 99,793 shares of the company’s stock valued at $6,241,000 after acquiring an additional 329 shares during the last quarter. Nemes Rush Group LLC lifted its holdings in Carvana by 0.4% in the 3rd quarter. Nemes Rush Group LLC now owns 66,648 shares of the company’s stock valued at $4,168,000 after acquiring an additional 241 shares during the last quarter. Finally, AlphaCore Capital LLC boosted its position in shares of Carvana by 132.1% during the 3rd quarter. AlphaCore Capital LLC now owns 7,096 shares of the company’s stock valued at $444,000 after purchasing an additional 4,039 shares in the last quarter. 56.71% of the stock is owned by institutional investors.
Key Stories Impacting Carvana
Here are the key news stories impacting Carvana this week:
- Positive Sentiment: Carvana’s latest quarterly revenue rose 42.4% year over year to $8.04 billion, topping estimates of $7.71 billion. However, EPS of $0.39 missed the $0.44 consensus, making the results mixed.
- Neutral Sentiment: VP Stephen Palmer sold 5,000 shares under a pre-arranged Rule 10b5-1 plan, which makes the transaction less informative about his current outlook. Palmer sale report
- Negative Sentiment: Insider selling was broader: Daniel Gill sold 253,639 shares—about 24.7% of his stake—for roughly $18.1 million, reportedly without a trading plan. The CFO and two directors also sold shares, adding to concerns about insider sentiment, though the filings do not explain their reasons. Gill sale report
- Negative Sentiment: A Yahoo Finance article asks whether Carvana stock could “crash from here,” highlighting downside concerns; the provided article details do not specify a particular new trigger. Carvana downside-risk article
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CVNA. Barclays lifted their price objective on shares of Carvana from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Citizens Jmp upped their price objective on shares of Carvana from $83.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, October 30th. Citigroup reiterated a “market outperform” rating on shares of Carvana in a research report on Wednesday, October 28th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $72.00 price target on shares of Carvana in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.09.
Check Out Our Latest Report on Carvana
Carvana Company Profile
Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.
The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.
Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.
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