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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $357,750.00. Following the completion of the sale, the vice president directly owned 128,886 shares in the company, valued at $9,221,793.30. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $0.95 during midday trading on Thursday, reaching $73.21. The company’s stock had a trading volume of 5,865,145 shares, compared to its average volume of 14,093,805. The firm has a market capitalization of $80.56 billion, a PE ratio of 40.49, a P/E/G ratio of 2.08 and a beta of 3.49. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The stock has a fifty day moving average of $68.51 and a 200 day moving average of $68.24. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm’s revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. On average, equities analysts expect that Carvana Co. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reissued a “market outperform” rating on shares of Carvana in a report on Monday. BNP Paribas Exane reduced their price target on Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, July 30th. Morgan Stanley set a $90.00 price target on Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. Hovde Group upped their price objective on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. Finally, UBS Group reaffirmed a “buy” rating and set a $83.00 price objective on shares of Carvana in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Ascentis Independent Advisors acquired a new position in Carvana during the first quarter worth $26,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Carvana by 152.6% in the first 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. Transamerica Financial Advisors LLC increased its stake in shares of Carvana by 558.0% during the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after purchasing an additional 385 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in Carvana during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.