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

Key Points

• Carvana VP Stephen Palmer sold 5,000 shares at an average price of $61.64, totaling $308,200, under a pre-arranged Rule 10b5-1 trading plan. He retains 120,865 shares.
• Carvana shares recently traded at $63.64, with a market capitalization of approximately $70.03 billion. The stock remains well below its 12-month high of $97.38.
• Carvana exceeded quarterly expectations, reporting $0.42 in earnings per share and $7.38 billion in revenue, while analysts maintain a consensus “Moderate Buy” rating with an $84.30 target price.

Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $61.64, for a total value of $308,200.00. Following the completion of the sale, the vice president owned 120,865 shares of the company's stock, valued at approximately $7,450,118.60. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Price Performance

Carvana stock traded down $0.13 during mid-day trading on Monday, reaching $63.64. 6,980,793 shares of the company were exchanged, compared to its average volume of 13,393,684. The company has a fifty day simple moving average of $69.01 and a 200-day simple moving average of $68.48. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The firm has a market cap of $70.03 billion, a PE ratio of 35.20, a PEG ratio of 1.84 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company's revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. As a group, equities research analysts expect that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVNA has been the topic of a number of analyst reports. Morgan Stanley set a $90.00 price objective on shares of Carvana and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Citizens Jmp dropped their target price on shares of Carvana from $103.00 to $83.00 and set a "market outperform" rating for the company in a research report on Thursday, July 30th. BNP Paribas Exane cut their price target on shares of Carvana from $86.00 to $69.00 and set a "hold" rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada set a $82.00 price target on shares of Carvana and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $120.00 price objective on shares of Carvana in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.30.

Institutional Trading of Carvana

Several large investors have recently bought and sold shares of the business. State Street Corp grew its position in Carvana by 417.1% in the second quarter. State Street Corp now owns 29,435,364 shares of the company's stock valued at $1,937,436,000 after acquiring an additional 23,742,422 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Carvana by 345.8% in the 2nd 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 purchasing an additional 2,579,295 shares in the last quarter. Amundi boosted its stake in shares of Carvana by 379.7% in the 2nd quarter. Amundi now owns 2,421,045 shares of the company's stock valued at $159,353,000 after purchasing an additional 1,916,349 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Carvana by 384.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company's stock valued at $124,933,000 after purchasing an additional 1,506,145 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company's services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.

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