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

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.42, for a total transaction of $352,100.00. Following the sale, the vice president directly owned 152,955 shares of the company’s stock, valued at $10,771,091.10. This represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Up 4.2%

CVNA opened at $66.31 on Friday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a 50-day simple moving average of $70.37 and a 200 day simple moving average of $75.07. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $72.73 billion, a price-to-earnings ratio of 40.33, a P/E/G ratio of 10.74 and a beta of 3.45.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Analysts predict that Carvana Co. will post 1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Ascentis Independent Advisors acquired a new position in shares of Carvana in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Carvana in the fourth quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Carvana in the fourth quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares during the period. Finally, Motiv8 Investments LLC acquired a new position in shares of Carvana in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Barclays set a $93.00 target price on Carvana and gave the stock an “overweight” rating in a research note on Thursday, May 14th. BNP Paribas Exane boosted their target price on Carvana from $77.60 to $85.80 in a research note on Thursday, April 30th. Citigroup reissued an “outperform” rating on shares of Carvana in a research note on Friday, May 1st. Finally, Citizens Jmp boosted their target price on Carvana from $92.00 to $103.00 and gave the stock a “market outperform” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.14.

About Carvana

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.