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

Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the sale, the vice president now directly owns 56,872 shares in the company, valued at approximately $4,874,499.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Carvana Stock Up 4.4 %

CVNA opened at $121.67 on Friday. Carvana Co. has a 52 week low of $6.92 and a 52 week high of $124.20. The business’s 50 day moving average is $81.81 and its two-hundred day moving average is $55.88. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted ($0.97) EPS. The company’s revenue was down 14.6% on a year-over-year basis. Equities analysts expect that Carvana Co. will post -3.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its stake in shares of Carvana by 59.8% during the third quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock worth $113,000 after buying an additional 1,006 shares during the period. Handelsbanken Fonder AB lifted its position in Carvana by 12.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock worth $806,000 after acquiring an additional 2,100 shares during the period. Xponance Inc. purchased a new position in shares of Carvana in the 3rd quarter valued at approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Carvana by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock valued at $769,000 after purchasing an additional 3,115 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Carvana during the third quarter worth approximately $236,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVNA shares. Evercore ISI dropped their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. JMP Securities lifted their price target on shares of Carvana from $80.00 to $135.00 and gave the stock a “market outperform” rating in a research note on Friday. Wedbush increased their price objective on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and increased their target price for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.44.

Carvana Company Profile

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.