Key Points
- Carvana COO Benjamin Huston sold 50,000 shares on July 1 at an average price of $68.55, totaling about $3.43 million. The sale reduced his ownership by 9.83% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Carvana shares were trading around $68.71, below both their 50-day and 200-day moving averages. The stock has ranged from a 52-week low of $54.46 to a high of $97.38.
- The company recently posted strong quarterly results, with $1.69 EPS versus $0.32 expected and revenue of $6.43 billion versus $6.12 billion estimated. Analysts remain broadly positive, with an average rating of Moderate Buy and an average price target of $93.14.
Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 5,000 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $68.53, for a total value of $342,650.00. Following the sale, the vice president owned 144,934 shares in the company, valued at $9,932,327.02. This represents a 3.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carvana Price Performance
Shares of CVNA opened at $68.71 on Friday. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The business has a 50-day simple moving average of $70.44 and a two-hundred day simple moving average of $73.93. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The stock has a market cap of $75.36 billion, a PE ratio of 41.80, a PEG ratio of 11.45 and a beta of 3.46.
Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Carvana
A number of hedge funds have recently made changes to their positions in CVNA. MassMutual Private Wealth & Trust FSB boosted its holdings in Carvana by 572.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,741 shares of the company's stock valued at $115,000 after acquiring an additional 1,482 shares during the last quarter. Versant Capital Management Inc raised its holdings in Carvana by 483.5% during the 2nd quarter. Versant Capital Management Inc now owns 2,480 shares of the company's stock worth $163,000 after purchasing an additional 2,055 shares during the last quarter. CX Institutional lifted its position in shares of Carvana by 1,326.4% in the 2nd quarter. CX Institutional now owns 3,409 shares of the company's stock worth $224,000 after purchasing an additional 3,170 shares during the period. Parallel Advisors LLC lifted its position in shares of Carvana by 24.1% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company's stock worth $294,000 after purchasing an additional 181 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Carvana by 22.5% in the 1st quarter. NewEdge Advisors LLC now owns 22,356 shares of the company's stock worth $7,028,000 after purchasing an additional 4,106 shares during the period. 56.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Evercore lifted their target price on shares of Carvana from $78.00 to $80.00 in a research report on Tuesday, April 28th. JPMorgan Chase & Co. upped their price target on shares of Carvana from $91.00 to $93.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Argus dropped their price target on shares of Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research note on Friday, May 1st. Finally, BNP Paribas Exane lifted their price target on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average price target of $93.14.
Check Out Our Latest Stock 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.
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