Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer Sells 5,000 Shares

Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the transaction, the vice president now owns 56,872 shares in the company, valued at $4,874,499.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Carvana Trading Up 4.5 %

NYSE CVNA traded up $5.22 on Friday, hitting $121.72. 8,523,599 shares of the company were exchanged, compared to its average volume of 6,314,580. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20. The firm has a 50 day moving average of $80.75 and a two-hundred day moving average of $55.27. The company has a market cap of $24.58 billion, a P/E ratio of 53.39 and a beta of 3.28.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.97) EPS. Research analysts anticipate that Carvana Co. will post -3.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CVNA. Parallel Advisors LLC lifted its stake in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the period. Diversified Trust Co lifted its position in Carvana by 6.0% during the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after purchasing an additional 319 shares during the period. Arizona State Retirement System boosted its stake in shares of Carvana by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock valued at $1,079,000 after purchasing an additional 377 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Carvana by 11.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after buying an additional 500 shares during the period. Finally, Blue Trust Inc. bought a new stake in shares of Carvana during the fourth quarter worth approximately $29,000. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday. Evercore ISI reduced their price objective on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Wedbush boosted their price objective on shares of Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JMP Securities boosted their price target on Carvana from $80.00 to $135.00 and gave the company a “market outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.44.

Carvana Company Profile

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.