Carvana (NYSE:CVNA) Director Sells $1,017,450.00 in Stock

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the transaction, the director directly owned 186,470 shares in the company, valued at approximately $12,648,260.10. The trade was a 7.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Carvana Stock Up 1.5%

Shares of NYSE:CVNA traded up $1.06 during mid-day trading on Tuesday, hitting $69.96. 7,194,072 shares of the company traded hands, compared to its average volume of 15,968,141. The stock has a market cap of $76.73 billion, a P/E ratio of 42.55, a P/E/G ratio of 10.82 and a beta of 3.45. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The stock has a 50-day moving average price of $71.47 and a two-hundred day moving average price of $75.25.

Carvana (NYSE:CVNA) last announced its earnings results 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. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, equities research analysts forecast that Carvana Co. will post 1.58 earnings per share for the current year.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Ascentis Independent Advisors bought a new stake in shares of Carvana during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Carvana during the 4th quarter valued at $29,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana during the 4th quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in shares of Carvana during the 4th quarter valued at $33,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CVNA. JPMorgan Chase & Co. lifted their price target on Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Citigroup reiterated an “outperform” rating on shares of Carvana in a report on Friday, May 1st. Citizens Jmp lifted their price target on Carvana from $92.00 to $103.00 and gave the stock a “market outperform” rating in a report on Friday, May 1st. Stephens lifted their price target on Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $92.00 price target on shares of Carvana in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Carvana Company Profile

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.