Carvana Co. (NYSE:CVNA) Director Sells $1,587,158.74 in Stock

Carvana Co. (NYSE:CVNA) Director Ira J. Platt sold 12,178 shares of Carvana stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the transaction, the director now owns 43,229 shares of the company’s stock, valued at $5,634,035.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Carvana Price Performance

Shares of CVNA stock opened at $142.05 on Thursday. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. The company has a market capitalization of $28.77 billion, a PE ratio of 62.30 and a beta of 3.37. The firm’s 50-day moving average is $125.96 and its two-hundred day moving average is $97.73. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $154.00.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. DA Davidson boosted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $77.00 to $175.00 in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. Finally, Piper Sandler boosted their price target on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Carvana currently has an average rating of “Hold” and a consensus target price of $143.73.

Institutional Trading of Carvana

Institutional investors have recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Carvana during the second quarter worth $32,000. Parallel Advisors LLC grew its holdings in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Summit Securities Group LLC increased 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 purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp raised its holdings in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the period. Finally, Tidemark LLC acquired a new position in Carvana in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.