Carvana (NYSE:CVNA) Director Ira Platt Sells 15,000 Shares

by · The Cerbat Gem

Carvana Co. (NYSE:CVNA – Get Free Report) Director Ira Platt sold 15,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the sale, the director owned 186,470 shares in the company, valued at approximately $12,648,260.10. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $1.06 during midday trading on Tuesday, reaching $69.96. 7,194,072 shares of the company traded hands, compared to its average volume of 15,968,141. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The firm has a market capitalization of $76.73 billion, a price-to-earnings ratio of 42.55, a price-to-earnings-growth ratio of 10.82 and a beta of 3.45. The firm’s fifty day moving average price is $71.47 and its two-hundred day moving average price is $75.25.

Carvana (NYSE:CVNA – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (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 company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. On average, equities analysts expect that Carvana Co. will post 1.58 earnings per share for the current year.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Royal Bank of Canada boosted its holdings in shares of Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Carvana by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,226 shares in the last quarter. AXA S.A. boosted its holdings in shares of Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after purchasing an additional 825 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. Gordon Haskett boosted their target price on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Citigroup restated an “outperform” rating on shares of Carvana in a research report on Friday, May 1st. Royal Bank Of Canada restated an “outperform” rating and set a $92.00 target price on shares of Carvana in a research report on Friday. DA Davidson boosted their target price on Carvana from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $120.00 target price on shares of Carvana in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Check Out Our Latest Research Report on CVNA

About Carvana

(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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