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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $71.71, for a total value of $358,550.00. Following the transaction, the vice president owned 112,840 shares in the company, valued at approximately $8,091,756.40. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of NYSE CVNA opened at $71.38 on Wednesday. The business has a fifty day moving average price of $65.81 and a two-hundred day moving average price of $69.20. The stock has a market capitalization of $78.55 billion, a PE ratio of 36.15, a P/E/G ratio of 1.85 and a beta of 3.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The company had revenue of $8.04 billion for the quarter, compared to analyst estimates of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. The business’s revenue for the quarter was up 42.4% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. As a group, equities analysts predict that Carvana Co. will post 1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVNA shares. Needham & Company LLC cut their price objective on shares of Carvana from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Oppenheimer set a $90.00 target price on shares of Carvana and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. Finally, Citizens Jmp upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.09.

Carvana News Roundup

Here are the key news stories impacting Carvana this week:

• Neutral Sentiment: CFO Mark Jenkins sold 63,750 shares and VP Stephen Palmer sold 5,000 shares. Both transactions were made under pre-arranged Rule 10b5-1 plans, which can make them less indicative of a change in the executives’ outlook. Jenkins SEC filing Palmer SEC filing
• Negative Sentiment: Other reported sales included insider Daniel Gill’s 253,639 shares, plus sales by directors J. Quayle and Ira Platt. The sales add to concerns about insider sentiment, although the filings do not establish the sellers’ reasons. Gill SEC filing
• Negative Sentiment: Analysts trimmed growth assumptions, resulting in a lower fair-value estimate for Carvana. This could weigh on the stock by tempering expectations for future performance. Carvana fair-value article

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Carvana by 152.6% in 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 last quarter. Meeder Advisory Services Inc. boosted its position in Carvana by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,993 shares of the company’s stock valued at $627,000 after buying an additional 75 shares in the last quarter. Ascentis Independent Advisors bought a new stake in shares of Carvana during the first quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in shares of Carvana during the first quarter worth $36,000. Finally, Root Financial Partners LLC grew its stake in shares of Carvana by 114.1% during the first quarter. Root Financial Partners LLC now owns 289 shares of the company’s stock worth $91,000 after buying an additional 154 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

About Carvana

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.