Carvana (NYSE:CVNA) Director Sells $1,132,500.00 in Stock

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 15,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $75.50, for a total value of $1,132,500.00. Following the sale, the director owned 186,470 shares in the company, valued at approximately $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Carvana Price Performance

Shares of CVNA stock traded down $5.48 during mid-day trading on Monday, reaching $70.11. The stock had a trading volume of 7,505,786 shares, compared to its average volume of 14,558,223. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The company has a market cap of $77.15 billion, a P/E ratio of 38.78, a price-to-earnings-growth ratio of 2.75 and a beta of 3.46. The business has a 50-day simple moving average of $67.23 and a 200 day simple moving average of $69.18. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business’s revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 EPS. On average, sell-side analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVNA shares. Robert W. Baird set a $72.00 price target on shares of Carvana in a research report on Thursday, July 30th. UBS Group reissued a “buy” rating and set a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. Citigroup cut their price target on Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, July 31st. Morgan Stanley set a $90.00 price objective on Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, DA Davidson set a $67.00 price objective on Carvana in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.14.

Institutional Trading of Carvana

A number of hedge funds have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD raised its holdings in Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares during the last quarter. State Street Corp boosted its holdings in shares of Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew its position in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the period. Finally, Geode Capital Management LLC increased its stake in Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.