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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 1,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $419.48, for a total value of $419,480.00. Following the transaction, the vice president owned 38,744 shares in the company, valued at $16,252,333.12. This trade represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Trading Up 7.5%

Shares of CVNA stock opened at $430.43 on Tuesday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The stock has a market cap of $93.64 billion, a price-to-earnings ratio of 98.27, a price-to-earnings-growth ratio of 0.95 and a beta of 3.54. The firm’s 50 day moving average price is $382.17 and its two-hundred day moving average price is $364.18. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $485.33.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the stock. Hilltop National Bank acquired a new position in shares of Carvana in the second quarter worth about $25,000. ORG Partners LLC lifted its position in shares of Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Carvana in the 3rd quarter valued at approximately $38,000. Steigerwald Gordon & Koch Inc. acquired a new position in Carvana in the 3rd quarter worth approximately $38,000. Finally, SJS Investment Consulting Inc. grew its position in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CVNA shares. Citigroup raised their price objective on shares of Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Morgan Stanley set a $450.00 price target on Carvana in a research report on Monday, October 20th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carvana in a research note on Monday, December 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $450.00 price target on shares of Carvana in a research report on Friday, December 19th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $451.14.

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.