Carvana (NYSE:CVNA) VP Stephen Palmer Sells 1,000 Shares

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of Carvana stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $419.48, for a total transaction of $419,480.00. Following the completion of the transaction, the vice president directly owned 38,744 shares in the company, valued at $16,252,333.12. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

CVNA traded up $30.18 during trading on Monday, reaching $430.43. The company’s stock had a trading volume of 4,176,909 shares, compared to its average volume of 4,436,727. The company’s fifty day moving average price is $380.68 and its 200-day moving average price is $363.32. The company has a market capitalization of $93.64 billion, a price-to-earnings ratio of 98.27, a price-to-earnings-growth ratio of 0.95 and a beta of 3.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $485.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on CVNA shares. Morgan Stanley set a $450.00 price objective on Carvana in a research report on Monday, October 20th. DA Davidson set a $360.00 price target on Carvana in a report on Thursday, October 30th. Citigroup lifted their price objective on shares of Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carvana in a research note on Friday, November 21st. They set a “buy” rating and a $395.00 price objective for the company. Finally, Wedbush increased their price objective on Carvana from $400.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $451.14.

Hedge Funds Weigh In On Carvana

A number of large investors have recently modified their holdings of CVNA. Los Angeles Capital Management LLC increased its position in Carvana by 1,950.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock worth $37,467,000 after buying an additional 105,768 shares during the period. Hudson Bay Capital Management LP raised its position in shares of Carvana by 158.0% in the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after buying an additional 10,090 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Carvana by 14.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after acquiring an additional 24,129 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Carvana during the 2nd quarter worth $183,102,000. Finally, Sheets Smith Wealth Management bought a new stake in shares of Carvana during the 2nd quarter worth $557,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

About Carvana

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.