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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of Carvana stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.53, for a total value of $342,650.00. Following the transaction, the vice president directly owned 144,934 shares in the company, valued at approximately $9,932,327.02. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Performance

Shares of NYSE CVNA traded up $0.84 during midday trading on Thursday, reaching $68.71. 8,379,061 shares of the company were exchanged, compared to its average volume of 15,753,974. The stock has a market cap of $75.36 billion, a P/E ratio of 41.80, a PEG ratio of 11.11 and a beta of 3.46. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The stock has a fifty day simple moving average of $70.44 and a 200 day simple moving average of $73.93. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. On average, research analysts forecast that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVNA. Ascentis Independent Advisors acquired a new stake in Carvana during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Carvana in the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Carvana in the 4th quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Carvana by 152.6% in the 1st 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 in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in shares of Carvana during the 4th quarter worth about $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVNA has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Carvana in a report on Friday, March 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.40 price objective on shares of Carvana in a research note on Thursday, April 30th. Morgan Stanley lifted their target price on shares of Carvana from $90.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. UBS Group reaffirmed a “buy” rating and issued a $104.00 price target (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Finally, DA Davidson increased their price target on shares of Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.14.

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.