Gregory B. Sullivan Sells 5,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $120.90, for a total transaction of $604,500.00. Following the completion of the transaction, the director now owns 58,407 shares of the company’s stock, valued at $7,061,406.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Carvana Trading Up 5.2 %

Shares of CVNA stock opened at $120.33 on Friday. Carvana Co. has a twelve month low of $10.16 and a twelve month high of $129.00. The stock has a 50 day moving average of $85.26 and a 200 day moving average of $58.27. The stock has a market cap of $24.29 billion, a P/E ratio of 52.78 and a beta of 3.28.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for 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 business’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts predict that Carvana Co. will post -3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Evercore ISI decreased their target price on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Wedbush boosted their target price on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. Royal Bank of Canada boosted their price target on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.60.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in Carvana by 39.0% in 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. Diversified Trust Co lifted its stake in Carvana by 6.0% in the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after buying an additional 319 shares in the last quarter. Arizona State Retirement System boosted its holdings in Carvana by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after buying an additional 377 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Carvana by 11.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after buying an additional 500 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of Carvana during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.