Carvana Co. (NYSE:CVNA) VP Sells $428,550.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the sale, the vice president now owns 56,872 shares of the company’s stock, valued at approximately $4,874,499.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Price Performance

Shares of CVNA opened at $121.67 on Monday. The firm has a 50 day simple moving average of $81.81 and a 200-day simple moving average of $56.03. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20. The stock 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 issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share 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 period last year, the business posted ($0.97) earnings per share. Carvana’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities analysts expect that Carvana Co. will post -3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVNA shares. JPMorgan Chase & Co. upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $130.00 in a research report on Thursday. TD Cowen raised their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a report on Thursday. Finally, Robert W. Baird increased their target price on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday. One 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.44.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Carvana in the 1st quarter worth approximately $969,000. FORA Capital LLC grew its stake in Carvana by 109.4% in the 1st quarter. FORA Capital LLC now owns 84,969 shares of the company’s stock worth $7,470,000 after acquiring an additional 44,392 shares during the period. Sequoia Financial Advisors LLC grew its stake in Carvana by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after acquiring an additional 500 shares during the period. HB Wealth Management LLC purchased a new stake in Carvana in the 1st quarter worth approximately $244,000. Finally, Principal Financial Group Inc. grew its stake in Carvana by 9.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock worth $1,117,000 after acquiring an additional 1,068 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.