Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan Sells 5,000 Shares

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $120.90, for a total transaction of $604,500.00. Following the completion of the sale, the director now directly owns 58,407 shares in the company, valued at $7,061,406.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Carvana Trading Up 5.2 %

CVNA stock opened at $120.33 on Friday. The firm has a market cap of $24.29 billion, a P/E ratio of 52.78 and a beta of 3.28. The stock’s 50 day simple moving average is $85.26 and its 200 day simple moving average is $58.27. Carvana Co. has a 12-month low of $10.16 and a 12-month high of $129.00.

Carvana (NYSE:CVNA) last posted its quarterly 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 the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted ($0.97) EPS. The business’s revenue was down 14.6% on a year-over-year basis. On average, research analysts forecast that Carvana Co. will post -3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Morgan Stanley raised its position in shares of Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after purchasing an additional 1,784,009 shares during the period. Vanguard Group Inc. lifted its stake in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. FMR LLC boosted its holdings in shares of Carvana by 0.5% during the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after acquiring an additional 24,560 shares during the period. First Trust Advisors LP grew its position in Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC increased its position in Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after acquiring an additional 23,140 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $130.00 in a research report on Thursday, May 2nd. Wedbush boosted their target price on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. TD Cowen raised their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a report on Monday, April 29th. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and raised their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $77.60.

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.