Ira J. Platt Sells 5,674 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA - Get Free Report) Director Ira J. Platt sold 5,674 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $344.00, for a total transaction of $1,951,856.00. Following the completion of the transaction, the director now directly owns 26,105 shares of the company's stock, valued at approximately $8,980,120. This represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Carvana Stock Down 0.7%

Shares of CVNA traded down $2.55 on Tuesday, reaching $337.36. The stock had a trading volume of 1,644,011 shares, compared to its average volume of 3,940,188. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.43. The firm has a market capitalization of $72.24 billion, a price-to-earnings ratio of 214.83 and a beta of 3.65. The company has a 50-day simple moving average of $260.79 and a 200-day simple moving average of $238.98. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. Sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVNA. Robert W. Baird lifted their price target on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wells Fargo & Company increased their price target on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Bank of America boosted their price target on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday. JMP Securities cut their target price on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $280.35.

Institutional Investors Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Carvana during the first quarter worth about $852,000. Geneos Wealth Management Inc. grew its position in Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after buying an additional 181 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Carvana by 0.6% in the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock worth $4,403,000 after purchasing an additional 135 shares during the last quarter. Bayforest Capital Ltd increased its stake in Carvana by 41.5% in the first quarter. Bayforest Capital Ltd now owns 1,773 shares of the company's stock valued at $371,000 after acquiring an additional 520 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Carvana by 27.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company's stock valued at $110,728,000 after acquiring an additional 114,526 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.