Ira J. Platt Sells 25,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) Director Ira J. Platt sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the transaction, the director now owns 5,227 shares of the company’s stock, valued at approximately $1,276,956.10. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Carvana Trading Up 0.2 %

Carvana stock opened at $248.29 on Friday. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. 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 market capitalization of $51.55 billion, a price-to-earnings ratio of 24,829.00 and a beta of 3.32. The firm has a 50-day moving average price of $228.64 and a two-hundred day moving average price of $168.46.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sugarloaf Wealth Management LLC acquired a new stake in Carvana in the third quarter worth about $32,000. Capital Performance Advisors LLP bought a new stake in shares of Carvana during the 3rd quarter worth about $40,000. Ridgewood Investments LLC bought a new stake in shares of Carvana during the 2nd quarter worth about $32,000. First Horizon Advisors Inc. lifted its stake in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the period. Finally, Summit Securities Group LLC boosted its holdings in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of several recent analyst reports. Citigroup upped their price target on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America lifted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price objective on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group increased their target price on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Carvana has an average rating of “Hold” and an average target price of $222.71.

About Carvana

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.