Carvana (NYSE:CVNA) VP Stephen Palmer Sells 1,000 Shares

Key Points

• Carvana VP Stephen Palmer sold 1,000 shares of the company at an average price of $390.14, resulting in a transaction totaling $390,140 and a 2.25% decrease in his ownership stake.
• Carvana's stock currently has a market capitalization of $84.89 billion and is experiencing strong analyst interest, with several upgrades and price target increases from firms like JMP Securities and Oppenheimer.
• The company reported a net margin of 3.46% and a quarterly revenue increase of 41.9% year-over-year, outperforming analyst expectations for both earnings per share and revenue.

Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total transaction of $390,140.00. Following the transaction, the vice president directly owned 43,513 shares of the company's stock, valued at $16,976,161.82. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Performance

Shares of CVNA traded down $0.92 during mid-day trading on Thursday, hitting $394.49. 1,594,982 shares of the company traded hands, compared to its average volume of 2,716,359. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The stock has a 50-day moving average price of $363.74 and a two-hundred day moving average price of $307.57. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a P/E/G ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the previous year, the company earned ($0.05) earnings per share. The firm's quarterly revenue was up 41.9% on a year-over-year basis. Equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVNA. JMP Securities increased their price objective on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective for the company in a research report on Friday, July 25th. Citigroup reiterated an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. Wells Fargo & Company increased their price objective on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC increased their price objective on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $404.94.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new position in Carvana during the 2nd quarter valued at about $25,000. Brooklyn Investment Group increased its position in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Carvana during the 1st quarter valued at about $33,000. SJS Investment Consulting Inc. increased its position in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Carvana during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Company Profile

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.

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