Insider Selling: Carvana (NYSE:CVNA) VP Sells 1,000 Shares of Stock

Key Points

• Carvana VP Stephen Palmer sold 1,000 shares on Feb. 2 at an average price of $393.04 for proceeds of $393,040, leaving him with 37,192 shares (a 2.62% reduction valued at about $14.62M).
• The stock traded up to $410.81 recently (1‑year range $148.25–$486.89) and shows high volatility (beta 3.57) with a market cap of about $89.4 billion.
• Analysts are broadly bullish — multiple firms have raised targets (UBS to $545, JPMorgan to $510) and the consensus rating is a “Moderate Buy” with an average price target of $474.27; institutional ownership is heavy at ~56.7%.

Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 1,000 shares of Carvana stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $393.04, for a total value of $393,040.00. Following the completion of the sale, the vice president directly owned 37,192 shares of the company's stock, valued at approximately $14,617,943.68. The trade was a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Carvana Stock Performance

Shares of Carvana stock traded up $2.92 during trading on Tuesday, hitting $410.81. 2,796,121 shares of the company's stock traded hands, compared to its average volume of 3,863,211. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $486.89. The business has a 50-day simple moving average of $433.47 and a 200-day simple moving average of $379.81. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The stock has a market capitalization of $89.37 billion, a P/E ratio of 93.79, a PEG ratio of 0.96 and a beta of 3.57.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Argus began coverage on shares of Carvana in a research note on Monday, December 15th. They issued a "buy" rating and a $500.00 price objective on the stock. UBS Group boosted their price objective on shares of Carvana from $450.00 to $545.00 and gave the company a "buy" rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on Carvana from $490.00 to $510.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 28th. Wedbush lifted their target price on Carvana from $400.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, December 19th. Finally, Evercore ISI boosted their price target on Carvana from $425.00 to $430.00 in a report on Tuesday, January 27th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and a consensus price target of $474.27.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock valued at $7,082,804,000 after purchasing an additional 3,328,115 shares during the last quarter. Viking Global Investors LP lifted its position in shares of Carvana by 94.9% during the third quarter. Viking Global Investors LP now owns 2,101,241 shares of the company's stock valued at $792,672,000 after buying an additional 1,023,265 shares during the last quarter. Sands Capital Management LLC lifted its position in Carvana by 1,374.3% during the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company's stock valued at $303,677,000 after acquiring an additional 840,096 shares during the last quarter. Norges Bank purchased a new stake in shares of Carvana during the 2nd quarter valued at $259,468,000. Finally, Invesco Ltd. boosted its holdings in Carvana by 96.8% in the third quarter. Invesco Ltd. now owns 1,445,018 shares of the company's stock worth $545,119,000 after acquiring an additional 710,582 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.