Insider Selling: Carvana (NYSE:CVNA) VP Sells $358,550.00 in Stock

Carvana Co. (NYSE:CVNA) VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $71.71, for a total transaction of $358,550.00. Following the completion of the sale, the vice president owned 112,840 shares of the company’s stock, valued at $8,091,756.40. The trade was a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Shares of NYSE CVNA traded down $0.62 during trading 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. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The stock has a market cap of $78.55 billion, a PE ratio of 35.84, a PEG ratio of 1.75 and a beta of 3.55. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The business’s 50 day moving average price is $65.83 and its 200-day moving average price is $69.31.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 36.63%. The company had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period last year, the company earned $1.03 earnings per share. Carvana’s revenue for the quarter was up 42.4% compared to the same quarter last year. Analysts expect that Carvana Co. will post 1.59 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently modified their holdings of CVNA. Provenance Wealth Advisors LLC bought a new stake in shares of Carvana during the third quarter worth approximately $25,000. Ascentis Independent Advisors acquired a new position in Carvana in the first quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake 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 acquiring an additional 58 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake 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 acquiring an additional 385 shares during the last quarter. Finally, GoalVest Advisory LLC boosted its stake in Carvana by 400.0% in the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research reports. Barclays upped their price objective on Carvana from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer set a $90.00 target price on Carvana and gave the company an “outperform” rating in a research note on Wednesday, September 30th. Citizens Jmp boosted their target price on Carvana from $83.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday. Jefferies Financial Group restated a “buy” rating on shares of Carvana in a research report on Thursday, October 29th. Finally, BNP Paribas Exane cut their price target on Carvana from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. One 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.