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

Key Points

• Stephen Palmer, Vice President of Carvana, sold 1,000 shares of the company's stock for a total of $361,040, reducing his ownership by 2.17% to 45,157 shares.
• Carvana's stock recently traded at $362.45, down 1.1%, with a market capitalization of $78 billion and a PE ratio of 90.84.
• Analysts have upgraded Carvana's stock price targets, with some setting prices as high as $500, reflecting a strong consensus with 12 "Buy" ratings and an average price target of $383.47.

Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.04, for a total value of $361,040.00. Following the completion of the transaction, the vice president owned 45,157 shares of the company's stock, valued at $16,303,483.28. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Carvana Stock Down 1.1%

Shares of NYSE:CVNA traded down $3.94 during trading on Wednesday, hitting $362.45. The stock had a trading volume of 1,469,629 shares, compared to its average volume of 4,049,646. Carvana Co. has a 12 month low of $124.39 and a 12 month high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The firm's fifty day moving average is $348.61 and its 200 day moving average is $283.86. The company has a market capitalization of $78.00 billion, a PE ratio of 90.84, a PEG ratio of 1.23 and a beta of 3.51.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the business posted ($0.05) EPS. The company's revenue was up 41.9% compared to the same quarter last year. Analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC upped their price target on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, July 31st. William Blair reissued an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $383.47.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently bought and sold shares of the stock. Warren Street Wealth Advisors LLC boosted its stake in Carvana by 2.8% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock valued at $388,000 after buying an additional 31 shares in the last quarter. MAI Capital Management grew its holdings in shares of Carvana by 1.8% during the second quarter. MAI Capital Management now owns 1,757 shares of the company's stock worth $592,000 after buying an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company's stock valued at $622,000 after purchasing an additional 31 shares during the period. Yousif Capital Management LLC lifted its holdings in Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in shares of Carvana by 1.2% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company's stock valued at $1,554,000 after purchasing an additional 53 shares during the last quarter. 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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