Stephen R. Palmer Sells 5,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the completion of the transaction, the vice president now owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Carvana Trading Up 0.0 %

Shares of NYSE:CVNA opened at $82.42 on Friday. The company has a market cap of $16.64 billion, a price-to-earnings ratio of 152.63 and a beta of 3.32. The company has a 50-day moving average price of $68.56 and a 200-day moving average price of $49.79. Carvana Co. has a 12 month low of $6.70 and a 12 month high of $94.04.

Carvana (NYSE:CVNA) last released 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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted ($0.97) earnings per share. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, research analysts forecast that Carvana Co. will post -3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently bought and sold shares of CVNA. US Bancorp DE raised its stake in Carvana by 248.0% in the first quarter. US Bancorp DE now owns 1,646 shares of the company’s stock worth $197,000 after buying an additional 1,173 shares in the last quarter. MetLife Investment Management LLC bought a new position in Carvana in the first quarter worth about $603,000. Panagora Asset Management Inc. raised its stake in Carvana by 86.7% in the first quarter. Panagora Asset Management Inc. now owns 3,022 shares of the company’s stock worth $360,000 after buying an additional 1,403 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Carvana by 2.4% during the first quarter. Great West Life Assurance Co. Can now owns 69,919 shares of the company’s stock valued at $8,842,000 after purchasing an additional 1,636 shares in the last quarter. Finally, Aviva PLC increased its stake in shares of Carvana by 62.5% during the first quarter. Aviva PLC now owns 41,710 shares of the company’s stock valued at $4,976,000 after purchasing an additional 16,037 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. William Blair upgraded shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. JMP Securities upped their price target on shares of Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a research report on Friday, February 23rd. Wedbush upped their price target on shares of Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada upgraded shares of Carvana from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $45.00 to $90.00 in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.60.

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.