Insider Selling: Carvana Co. (NYSE:CVNA) VP Sells 5,000 Shares of Stock

Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total value of $428,550.00. Following the completion of the sale, the vice president now directly owns 56,872 shares in the company, valued at $4,874,499.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Price Performance

NYSE CVNA opened at $121.72 on Friday. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20. The business’s fifty day moving average price is $81.81 and its 200-day moving average price is $55.88.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) EPS. Equities research analysts anticipate that Carvana Co. will post -3.32 EPS for the current year.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently made changes to their positions in CVNA. Parallel Advisors LLC increased its stake in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Diversified Trust Co grew its holdings in Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after purchasing an additional 319 shares during the period. Arizona State Retirement System increased its position in Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after buying an additional 377 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Carvana by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after buying an additional 500 shares during the period. Finally, Blue Trust Inc. purchased a new position in shares of Carvana during the 4th quarter valued at about $29,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $130.00 in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Carvana in a research note on Thursday. Evercore ISI decreased their target price on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Royal Bank of Canada increased their price target on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and raised their price target for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Carvana currently has an average rating of “Hold” and an average price target of $73.44.

About Carvana

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.