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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $305.00, for a total value of $305,000.00. Following the completion of the transaction, the vice president directly owned 41,868 shares in the company, valued at $12,769,740. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Carvana Stock Performance

Shares of CVNA stock traded down $22.42 during trading on Tuesday, reaching $309.91. The company had a trading volume of 3,851,037 shares, compared to its average volume of 3,857,016. The firm’s 50 day simple moving average is $362.00 and its two-hundred day simple moving average is $332.73. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a market capitalization of $66.69 billion, a PE ratio of 70.76, a PEG ratio of 1.04 and a beta of 3.50.

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

Analysts Set New Price Targets

CVNA has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective on Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. Morgan Stanley set a $450.00 price objective on Carvana in a research note on Monday, October 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a research report on Thursday, October 30th. Bank of America dropped their price target on Carvana from $405.00 to $385.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Wells Fargo & Company lifted their price target on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus price target of $415.50.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the company. SJS Investment Consulting Inc. increased its position in shares of Carvana by 28.3% during the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the period. Warren Street Wealth Advisors LLC increased its position in shares of Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after purchasing an additional 31 shares during the period. MAI Capital Management increased its position in shares of Carvana by 1.8% during the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after purchasing an additional 31 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Carvana by 23.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after buying an additional 31 shares in the last quarter. 56.71% of the stock is currently owned by 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.