Gregory B. Sullivan Sells 5,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) Director Gregory B. Sullivan sold 5,000 shares of Carvana stock in a transaction that occurred 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 in the company, valued at approximately $12,550,645. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Carvana Stock Up 1.1 %

NYSE:CVNA opened at $241.44 on Friday. The company has a market cap of $49.96 billion, a price-to-earnings ratio of 24,168.17 and a beta of 3.37. Carvana Co. has a twelve month low of $27.75 and a twelve month high of $259.39. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a fifty day simple moving average of $180.75 and a 200-day simple moving average of $142.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. Analysts anticipate that Carvana Co. will post 0.53 EPS for the current year.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in Carvana in the second quarter worth approximately $32,000. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana during the 3rd quarter worth $32,000. Summit Securities Group LLC grew its position in shares of 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 buying an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Carvana in the third quarter valued at about $40,000. Finally, Fifth Third Bancorp lifted its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the period. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVNA shares. JPMorgan Chase & Co. raised their target price on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup boosted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI boosted their price objective on Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $110.00 to $260.00 in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $217.71.

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.