Carvana (NYSE:CVNA) Director Ira Platt Sells 15,000 Shares of Stock

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $75.50, for a total value of $1,132,500.00. Following the transaction, the director owned 186,470 shares in the company, valued at $14,078,485. This trade represents a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Price Performance

Shares of NYSE CVNA opened at $70.11 on Tuesday. The firm has a market cap of $77.15 billion, a PE ratio of 38.78, a PEG ratio of 2.75 and a beta of 3.46. The firm has a fifty day moving average of $67.24 and a 200 day moving average of $69.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the business posted $1.51 earnings per share. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, research analysts predict that Carvana Co. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research analyst reports. Wells Fargo & Company set a $80.00 price objective on Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Carvana in a report on Thursday, July 30th. UBS Group restated a “buy” rating and issued a $83.00 target price on shares of Carvana in a research report on Friday, July 31st. Argus lowered their price target on Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Finally, Royal Bank Of Canada set a $82.00 price target on Carvana and gave the stock an “outperform” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Public Employees Retirement System of Ohio grew its position in shares of Carvana by 556.7% in the second quarter. Public Employees Retirement System of Ohio now owns 258,520 shares of the company’s stock valued at $17,016,000 after purchasing an additional 219,155 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Carvana in the 2nd quarter valued at $227,000. Transamerica Financial Advisors LLC grew its holdings in Carvana by 558.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after buying an additional 385 shares in the last quarter. Corient Private Wealth LP increased its stake in shares of Carvana by 704.0% in the 2nd quarter. Corient Private Wealth LP now owns 49,336 shares of the company’s stock worth $3,248,000 after acquiring an additional 43,200 shares during the last quarter. Finally, Palestra Capital Management LLC raised its holdings in shares of Carvana by 99.9% during the 2nd quarter. Palestra Capital Management LLC now owns 795,635 shares of the company’s stock worth $52,369,000 after acquiring an additional 397,628 shares during the period. 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.