Carvana (NYSE:CVNA) Director Sells $2,245,230.00 in Stock

Carvana Co. (NYSE:CVNA) Director Ira Platt sold 29,640 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $75.75, for a total transaction of $2,245,230.00. Following the completion of the sale, the director directly owned 186,470 shares in the company, valued at $14,125,102.50. This trade represents a 13.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Carvana Stock Performance

Shares of CVNA stock opened at $73.59 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.43 and a current ratio of 4.05. The firm has a market cap of $80.99 billion, a P/E ratio of 36.94, a P/E/G ratio of 1.89 and a beta of 3.66. The firm’s 50 day moving average price is $65.80 and its 200-day moving average price is $68.96. Carvana Co. has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last posted its earnings results 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 analyst estimates of $7.71 billion. Carvana had a net margin of 6.21% and a return on equity of 34.77%. The firm’s revenue for the quarter was up 42.4% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. As a group, equities research analysts predict that Carvana Co. will post 1.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Carvana by 417.1% during the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company’s stock worth $1,937,436,000 after purchasing an additional 23,742,422 shares during the last quarter. Spruce House Investment Management LLC increased its holdings in Carvana by 2.6% in the first quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company’s stock valued at $734,077,000 after buying an additional 60,000 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Carvana by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 710,264 shares of the company’s stock valued at $223,293,000 after buying an additional 16,692 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after buying an additional 2,579,295 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Carvana by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 604,729 shares of the company’s stock valued at $190,009,000 after buying an additional 57,040 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of several research analyst reports. UBS Group restated a “buy” rating and set a $84.00 price target (up from $83.00) on shares of Carvana in a research report on Thursday, October 29th. Needham & Company LLC cut their price objective on Carvana from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 29th. Oppenheimer set a $90.00 target price on Carvana and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. Citigroup reissued a “market outperform” rating on shares of Carvana in a research note on Wednesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $85.00 target price on shares of Carvana in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Carvana Company Profile

Carvana Co operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines.

Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.

Co-founder Ernest Garcia III has served as Carvana’s chief executive officer.