Carvana Co (NYSE:CVNA) Director Ira J. Platt sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $84.50, for a total value of $109,850.00. Following the completion of the sale, the director now owns 23,682 shares in the company, valued at approximately $2,001,129. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
CVNA opened at $83.61 on Friday. The company’s fifty day moving average price is $72.79 and its two-hundred day moving average price is $63.33. The company has a market cap of $12.79 billion, a price-to-earnings ratio of -48.33 and a beta of 2.24. The company has a current ratio of 3.83, a quick ratio of 1.40 and a debt-to-equity ratio of 2.10. Carvana Co has a 1-year low of $28.44 and a 1-year high of $85.03.
Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). The firm had revenue of $986.22 million during the quarter, compared to the consensus estimate of $914.50 million. Carvana had a negative net margin of 3.49% and a negative return on equity of 30.55%. Carvana’s revenue was up 107.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.37) earnings per share. As a group, equities analysts forecast that Carvana Co will post -1.82 earnings per share for the current fiscal year.
A number of analysts recently issued reports on CVNA shares. Wells Fargo & Co reissued a “buy” rating and issued a $85.00 target price on shares of Carvana in a research report on Monday, July 1st. JMP Securities raised their price objective on Carvana from $64.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Zacks Investment Research cut Carvana from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. BMO Capital Markets lifted their target price on Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Finally, Barrington Research reissued a “hold” rating on shares of Carvana in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Carvana has a consensus rating of “Hold” and an average price target of $73.64.
A number of large investors have recently modified their holdings of CVNA. Resources Investment Advisors LLC. boosted its holdings in shares of Carvana by 150.0% during the second quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Aperio Group LLC acquired a new position in Carvana in the second quarter valued at $75,000. FNY Investment Advisers LLC boosted its holdings in Carvana by 12,800.0% in the second quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock valued at $80,000 after acquiring an additional 1,280 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Carvana in the second quarter valued at $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Carvana in the second quarter valued at $158,000. 35.92% of the stock is owned by institutional investors and hedge funds.
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 proprietary 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.
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