Key Points
- Carvana VP Stephen Palmer sold 5,000 shares on June 1 in a transaction worth $352,100, at an average price of $70.42 per share. After the sale, he still owned 152,955 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Carvana’s stock was down 2.6% and opened at $63.92, with the company carrying a market cap of about $70.11 billion. The stock remains well below its 12-month high of $97.38 but above its low of $54.46.
- Analysts remain constructive on Carvana after the company beat first-quarter earnings and revenue estimates, reporting EPS of $1.69 versus $0.32 expected and revenue of $6.43 billion versus $6.12 billion expected. The consensus rating is Moderate Buy with an average target price of $93.14.
Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.42, for a total transaction of $352,100.00. Following the transaction, the vice president directly owned 152,955 shares in the company, valued at approximately $10,771,091.10. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carvana Stock Down 2.6%
Shares of NYSE CVNA opened at $63.92 on Thursday. The firm has a market cap of $70.11 billion, a PE ratio of 38.88, a P/E/G ratio of 11.07 and a beta of 3.45. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The company's fifty day simple moving average is $70.24 and its 200 day simple moving average is $75.05. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05.
Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. As a group, sell-side analysts forecast that Carvana Co. will post 1.58 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Ascentis Independent Advisors bought a new position in shares of Carvana in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Carvana in the fourth quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana in the fourth quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company's stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $33,000. Institutional investors own 56.71% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on CVNA. JPMorgan Chase & Co. increased their price target on Carvana from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Citigroup reiterated an "outperform" rating on shares of Carvana in a report on Friday, May 1st. UBS Group reiterated a "buy" rating and issued a $104.00 price target (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Morgan Stanley increased their price target on Carvana from $90.00 to $102.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, DA Davidson increased their price target on Carvana from $64.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.14.
Get Our Latest Analysis on CVNA
Carvana Company Profile
(
Get Free Report)
Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.
Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.
Further Reading
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