Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells $1,175,000.00 in Stock

by · The Markets Daily

Carvana Co. (NYSE:CVNA – Get Free Report) Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the sale, the director now directly owns 53,407 shares of the company’s stock, valued at $12,550,645. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Carvana Price Performance

Shares of CVNA stock traded up $3.25 during trading hours on Wednesday, hitting $238.93. 2,944,638 shares of the company’s stock were exchanged, compared to its average volume of 4,810,592. Carvana Co. has a fifty-two week low of $27.75 and a fifty-two week high of $259.39. The firm has a market cap of $49.45 billion, a P/E ratio of 23,578.00 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a 50 day moving average of $177.23 and a two-hundred day moving average of $140.97.

Carvana (NYSE:CVNA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business’s revenue was up 31.8% on a year-over-year basis. Sell-side analysts forecast that Carvana Co. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVNA. Citigroup upped their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price target for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $217.71.

Get Our Latest Analysis on CVNA

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of Carvana in the second quarter worth approximately $32,000. Sugarloaf Wealth Management LLC purchased a new position in Carvana in the 3rd quarter valued at $32,000. Summit Securities Group LLC boosted its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Carvana during the third quarter worth $40,000. Finally, Fifth Third Bancorp raised its position in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Company Profile

(Get Free Report)

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.

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