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

Carvana Co. (NYSE:CVNA) VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the sale, the vice president now owns 56,872 shares of the company’s stock, valued at approximately $4,874,499.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Carvana Stock Performance

NYSE:CVNA opened at $121.72 on Friday. Carvana Co. has a 52 week low of $6.92 and a 52 week high of $124.20. The firm has a 50-day moving average price of $81.81 and a two-hundred day moving average price of $55.88. The firm has a market cap of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company 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 firm earned ($0.97) earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Carvana Co. will post -3.32 earnings per share for the current year.

Institutional Investors Weigh In On Carvana

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. purchased a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Hanseatic Management Services Inc. bought a new position in Carvana during the third quarter valued at $34,000. Parallel Advisors LLC grew its holdings in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the period. Harvest Fund Management Co. Ltd increased its position in Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after buying an additional 1,103 shares during the last quarter. Finally, Tidemark LLC bought a new stake in shares of Carvana in the fourth quarter valued at $50,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. Wells Fargo & Company upped their price target on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $130.00 in a research note on Thursday. Morgan Stanley upped their target price on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, TD Cowen lifted their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.44.

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.