Insider Selling: Carvana (NYSE:CVNA) VP Sells $357,750.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $357,750.00. Following the sale, the vice president owned 128,886 shares in the company, valued at approximately $9,221,793.30. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Up 1.7%

CVNA opened at $74.65 on Friday. The company has a fifty day moving average of $68.89 and a two-hundred day moving average of $68.31. The stock has a market capitalization of $82.15 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 2.18 and a beta of 3.49. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. On average, research analysts expect that Carvana Co. will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

A number of 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 1st quarter worth approximately $26,000. Farmers & Merchants Investments Inc. acquired a new stake in Carvana in the 4th quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in 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 purchasing an additional 58 shares during the period. Transamerica Financial Advisors LLC raised its position in Carvana by 558.0% in the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after purchasing an additional 385 shares during the period. Finally, Motiv8 Investments LLC purchased a new stake in Carvana in the fourth quarter valued at approximately $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CVNA. DA Davidson set a $67.00 price target on shares of Carvana in a research note on Thursday, July 30th. UBS Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. Wells Fargo & Company set a $80.00 price objective on Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. Jefferies Financial Group cut their target price on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 target price on shares of Carvana in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

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.