Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer Sells 5,000 Shares of Stock

Carvana Co. (NYSE:CVNAGet Free Report) VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now owns 62,514 shares in the company, valued at $5,423,089.50. The sale was disclosed in a filing with the SEC, which is available through this link.

Carvana Stock Down 0.6 %

Shares of Carvana stock opened at $82.38 on Thursday. Carvana Co. has a 52 week low of $6.70 and a 52 week high of $94.04. The firm has a market capitalization of $16.63 billion, a P/E ratio of 152.56 and a beta of 3.32. The company has a 50 day moving average price of $67.73 and a 200 day moving average price of $49.57.

Carvana (NYSE:CVNAGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company earned ($0.97) earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts anticipate that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of recent analyst reports. Wedbush raised their price target on shares of Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. William Blair upgraded shares of Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. JMP Securities raised their price target on shares of Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. Evercore ISI raised their price target on shares of Carvana from $75.00 to $78.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, Royal Bank of Canada upgraded shares of Carvana from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $45.00 to $90.00 in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.60.

Check Out Our Latest Research Report on CVNA

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd raised its position in Carvana by 128.1% during the 4th quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock worth $6,269,000 after buying an additional 66,386 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Carvana by 63.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock worth $131,000 after buying an additional 965 shares during the last quarter. Vanguard Group Inc. raised its position in Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Carvana during the 4th quarter valued at approximately $4,703,000. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its holdings in shares of Carvana by 17.6% during the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

(Get Free Report)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

Further Reading

Insider Buying and Selling by Quarter for Carvana (NYSE:CVNA)

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