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

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

Carvana Price Performance

CVNA stock opened at $248.25 on Friday. The stock has a market cap of $51.54 billion, a price-to-earnings ratio of 24,825.00 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a 50 day simple moving average of $228.64 and a 200 day simple moving average of $168.91. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings results 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 company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Research analysts anticipate that Carvana Co. will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several large investors have recently bought and sold shares of CVNA. Eagle Asset Management Inc. acquired a new position in shares of Carvana in the third quarter valued at approximately $50,531,000. Driehaus Capital Management LLC grew its holdings in 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 acquiring an additional 323,153 shares during the last quarter. Swiss National Bank increased its position in Carvana by 6.9% in the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after acquiring an additional 13,400 shares during the period. Integrated Advisors Network LLC raised its stake in shares of Carvana by 89.2% during the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after acquiring an additional 24,996 shares during the last quarter. Finally, Colonial River Investments LLC acquired a new position in shares of Carvana during the third quarter worth $786,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVNA has been the topic of a number of recent research reports. Stephens began coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Bank of America lifted their price target on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. JMP Securities lifted their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased their target price on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.