Carvana Co. (NYSE:CVNA) Director Sells $604,500.00 in Stock

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $120.90, for a total value of $604,500.00. Following the completion of the transaction, the director now owns 58,407 shares of the company’s stock, valued at approximately $7,061,406.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Trading Down 1.9 %

Shares of CVNA traded down $2.27 during trading hours on Wednesday, reaching $114.39. 3,649,464 shares of the stock traded hands, compared to its average volume of 6,279,654. The company’s 50-day moving average price is $83.59 and its two-hundred day moving average price is $57.44. Carvana Co. has a 52-week low of $10.16 and a 52-week high of $129.00. The company has a market cap of $23.10 billion, a P/E ratio of 51.17 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its quarterly 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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company earned ($0.97) earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. On average, research analysts forecast that Carvana Co. will post -3.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVNA. Morgan Stanley boosted its holdings in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after buying an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the last quarter. FMR LLC boosted its stake in Carvana by 0.5% during the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after purchasing an additional 24,560 shares during the last quarter. First Trust Advisors LP boosted its position in Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after acquiring an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC increased its holdings in shares of Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVNA has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $130.00 in a research note on Thursday, May 2nd. Royal Bank of Canada boosted their target price on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Evercore ISI lowered their price target on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Morgan Stanley upped their price objective on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, Wells Fargo & Company lifted their target price on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Carvana currently 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.