Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells $1,661,150.00 in Stock

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $332.23, for a total transaction of $1,661,150.00. Following the transaction, the director now directly owns 44,428 shares of the company’s stock, valued at $14,760,314.44. The trade was a 10.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carvana Trading Down 7.0%

CVNA opened at $296.71 on Monday. Carvana Co. has a 1-year low of $100.05 and a 1-year high of $351.43. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $63.54 billion, a P/E ratio of 188.99 and a beta of 3.65. The company has a fifty day moving average price of $272.91 and a two-hundred day moving average price of $240.85.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue was up 38.3% compared to the same quarter last year. Analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the subject of several analyst reports. Citigroup raised their price target on shares of Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Piper Sandler set a $340.00 target price on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Evercore ISI lowered their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.35.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quent Capital LLC acquired a new position in shares of Carvana during the fourth quarter valued at about $28,000. Brooklyn Investment Group grew its holdings in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana during the fourth quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Carvana during the first quarter valued at about $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.