Carvana (NYSE:CVNA) Director Ira Platt Sells 30,000 Shares of Stock

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $71.74, for a total value of $2,152,200.00. Following the transaction, the director owned 186,470 shares in the company, valued at approximately $13,377,357.80. The trade was a 13.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Trading Down 0.9%

Carvana stock traded down $0.62 during trading hours on Tuesday, reaching $71.38. The company had a trading volume of 9,959,162 shares, compared to its average volume of 13,071,145. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a 50-day moving average price of $65.83 and a 200 day moving average price of $69.31. The firm has a market cap of $78.55 billion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 1.75 and a beta of 3.55. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). The company had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $7.71 billion. Carvana had a net margin of 6.21% and a return on equity of 36.63%. The business’s revenue for the quarter was up 42.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Equities analysts forecast that Carvana Co. will post 1.59 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Provenance Wealth Advisors LLC bought a new position in Carvana in the third quarter worth about $25,000. Ascentis Independent Advisors purchased a new stake in Carvana in the first quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the period. Transamerica Financial Advisors LLC boosted its position in Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its position in Carvana by 400.0% during the 2nd quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore set a $75.00 price target on shares of Carvana in a research report on Thursday, July 30th. DA Davidson restated a “neutral” rating and issued a $67.00 price objective on shares of Carvana in a research report on Thursday, October 29th. Citigroup reaffirmed a “market outperform” rating on shares of Carvana in a research note on Wednesday, October 28th. Robert W. Baird set a $72.00 price objective on shares of Carvana in a research note on Thursday, July 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $75.00 target price (down from $80.00) on shares of Carvana in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.09.

About Carvana

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.