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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $61.64, for a total transaction of $308,200.00. Following the sale, the vice president directly owned 120,865 shares in the company, valued at approximately $7,450,118.60. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of CVNA traded down $0.13 during trading hours on Monday, reaching $63.64. The stock had a trading volume of 6,980,793 shares, compared to its average volume of 13,393,684. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock has a market capitalization of $70.03 billion, a PE ratio of 35.20, a PEG ratio of 1.84 and a beta of 3.55. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The company’s 50-day moving average is $69.01 and its two-hundred day moving average is $68.48.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVNA shares. Robert W. Baird set a $72.00 price objective on shares of Carvana in a report on Thursday, July 30th. BTIG Research restated a “buy” rating and issued a $87.00 price target on shares of Carvana in a research report on Tuesday, August 18th. Oppenheimer set a $90.00 price target on shares of Carvana and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $80.00 price target on shares of Carvana in a report on Friday, July 31st. Finally, Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Carvana by 12.0% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,950 shares of the company’s stock worth $122,000 after buying an additional 209 shares during the period. CX Institutional raised its stake in Carvana by 24.6% during the third quarter. CX Institutional now owns 4,246 shares of the company’s stock worth $266,000 after buying an additional 837 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Carvana by 7.3% in the third quarter. Versant Capital Management Inc now owns 2,660 shares of the company’s stock valued at $166,000 after buying an additional 180 shares during the period. QRG Capital Management Inc. lifted its holdings in Carvana by 490.1% in the second quarter. QRG Capital Management Inc. now owns 68,545 shares of the company’s stock valued at $4,512,000 after buying an additional 56,930 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Carvana by 422.0% during the second quarter. Envestnet Asset Management Inc. now owns 472,281 shares of the company’s stock valued at $31,086,000 after acquiring an additional 381,808 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.