Key Points
- Carvana COO Benjamin Huston sold 50,000 shares at an average price of $71.55, totaling $3.58 million. The sale reduced his holdings by 9.46% to 478,693 shares and was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Carvana reported quarterly EPS of $0.42, beating estimates of $0.39, while revenue reached $7.38 billion and increased 52.4% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $84.14, compared with the stock’s reported price of $73.21.
Carvana Co. (NYSE:CVNA - Get Free Report) VP Stephen Palmer sold 5,000 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $357,750.00. Following the completion of the transaction, the vice president directly owned 128,886 shares in the company, valued at approximately $9,221,793.30. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carvana Price Performance
Carvana stock opened at $73.21 on Friday. The business's 50 day simple moving average is $68.65 and its 200 day simple moving average is $68.27. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a market cap of $80.56 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 2.17 and a beta of 3.49. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.
Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business's revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Sell-side analysts forecast that Carvana Co. will post 1.65 EPS for the current year.
Institutional Trading of Carvana
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ascentis Independent Advisors bought a new position in Carvana in the 1st quarter worth about $26,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana during the fourth quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company's stock valued at $30,000 after buying an additional 58 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of Carvana by 558.0% in the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company's stock worth $30,000 after buying an additional 385 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in shares of Carvana in the fourth quarter worth about $33,000. 56.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CVNA has been the topic of a number of research reports. Weiss Ratings upgraded Carvana from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Evercore set a $75.00 target price on shares of Carvana in a research note on Thursday, July 30th. Morgan Stanley set a $90.00 price target on shares of Carvana and gave the company an "overweight" rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group dropped their price target on shares of Carvana from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.14.
Read Our Latest Research Report 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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