Carvana Co. (NYSE:CVNA) VP Sells 5,000 Shares

Carvana Co. (NYSE:CVNA - Get Free Report) 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 transaction, the vice president now directly owns 56,872 shares in the company, valued at approximately $4,874,499.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Carvana Price Performance

Shares of CVNA traded up $5.22 during midday trading on Friday, reaching $121.72. The stock had a trading volume of 8,523,599 shares, compared to its average volume of 6,314,580. The company has a market cap of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. The company's fifty day simple moving average is $80.75 and its two-hundred day simple moving average is $55.27. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the business earned ($0.97) earnings per share. Carvana's revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Carvana Co. will post -3.32 earnings per share for the current year.

Analysts Set New Price Targets

CVNA has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on Carvana from $90.00 to $130.00 and gave the stock a "sector perform" rating in a report on Thursday. JMP Securities increased their price target on shares of Carvana from $80.00 to $135.00 and gave the company a "market outperform" rating in a research note on Friday. Raymond James raised shares of Carvana from an "underperform" rating to a "market perform" rating in a research report on Friday, February 23rd. TD Cowen increased their price objective on Carvana from $58.00 to $70.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Morgan Stanley lifted their target price on Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Carvana currently has an average rating of "Hold" and an average price target of $73.44.

Institutional Trading of Carvana

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