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

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 53,407 shares in the company, valued at approximately $12,550,645. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Carvana Stock Performance

Shares of CVNA opened at $244.33 on Friday. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of 24,457.46 and a beta of 3.37. Carvana Co. has a 12 month low of $27.75 and a 12 month high of $259.39. The firm has a fifty day simple moving average of $182.63 and a 200 day simple moving average of $143.54. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CVNA shares. Piper Sandler lifted their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen lifted their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. BTIG Research upped their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stephens assumed coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. Finally, Evercore ISI boosted their target price on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $217.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CVNA. Vanguard Group Inc. grew its stake in shares of Carvana by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after buying an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP grew its position in shares of Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the period. Renaissance Technologies LLC grew its position in shares of Carvana by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after acquiring an additional 88,500 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Company Profile

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.