Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 5,000 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $64.49, for a total value of $322,450.00. Following the completion of the sale, the vice president owned 136,909 shares in the company, valued at $8,829,261.41. The trade was a 3.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carvana Stock Up 2.7%
Carvana stock opened at $67.91 on Wednesday. The business's 50-day moving average price is $66.77 and its 200 day moving average price is $70.27. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The firm has a market cap of $74.49 billion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 2.44 and a beta of 3.46. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.
Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the company posted $1.51 earnings per share. Carvana's revenue for the quarter was up 52.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post 1.65 earnings per share for the current year.
Trending Headlines about Carvana
Here are the key news stories impacting Carvana this week:
- Positive Sentiment: Director Michael E. Maroone purchased 25,000 shares worth approximately $1.55 million, increasing his direct ownership by 17.41%. The purchase may signal confidence in Carvana’s long-term prospects. SEC insider purchase filing
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Morgan Stanley set a $90.00 target price on shares of Carvana and gave the company an "overweight" rating in a research note on Thursday, July 30th. Stephens lifted their price objective on shares of Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Argus decreased their price objective on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. UBS Group reiterated a "buy" rating and issued a $83.00 price objective on shares of Carvana in a research report on Friday. Finally, BNP Paribas Exane lowered their target price on shares of Carvana from $86.00 to $69.00 and set a "hold" rating on the stock in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $84.14.
Get Our Latest Analysis on CVNA
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock valued at $7,082,804,000 after buying an additional 3,328,115 shares in the last quarter. State Street Corp increased its holdings in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock worth $2,411,751,000 after acquiring an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its position in Carvana by 42.9% during the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the period. Price T Rowe Associates Inc. MD raised its position in Carvana by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock worth $7,481,081,000 after acquiring an additional 1,407,762 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Carvana by 55.4% during the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.
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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