Gregory B. Sullivan Sells 2,500 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $343.91, for a total value of $859,775.00. Following the sale, the director now directly owns 51,928 shares in the company, valued at approximately $17,858,558.48. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Carvana Trading Down 6.3%

Shares of CVNA stock opened at $318.88 on Friday. The company has a 50-day simple moving average of $270.50 and a two-hundred day simple moving average of $240.77. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 52-week low of $100.05 and a 52-week high of $351.43. The company has a market capitalization of $68.29 billion, a price-to-earnings ratio of 203.11 and a beta of 3.65.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVNA. Citigroup boosted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. DA Davidson increased their price objective on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Wedbush raised Carvana to a “hold” rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $280.35.

Institutional Trading of Carvana

Several institutional investors have recently added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Norges Bank bought a new stake in Carvana during the fourth quarter valued at about $179,364,000. Castle Hook Partners LP purchased a new stake in shares of Carvana in the fourth quarter worth $116,020,000. Finally, BNP Paribas Financial Markets grew its holdings in Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock valued at $207,086,000 after buying an additional 481,912 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.