Carvana Co. (NYSE:CVNA) Director Sells $99,600.00 in Stock (2024)

Carvana Co. (NYSE:CVNA - Get Free Report) Director Ira J. Platt sold 664 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares of the company's stock, valued at approximately $4,534,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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Carvana Stock Up 6.7 %

Carvana Hits Record Milestones in Q2 With More to Come in 2024

Shares of NYSE CVNA traded up $9.56 during mid-day trading on Thursday, reaching $151.56. 4,133,905 shares of the company's stock traded hands, compared to its average volume of 5,441,911. The stock has a market cap of $30.70 billion, a P/E ratio of 66.47 and a beta of 3.37. The business has a 50-day simple moving average of $126.90 and a 200 day simple moving average of $98.11. Carvana Co. has a 1-year low of $25.09 and a 1-year high of $154.00. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Carvana by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company's stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company's stock worth $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP grew its position in Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company's stock worth $486,143,000 after purchasing an additional 52,833 shares in the last quarter. First Trust Advisors LP grew its position in Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company's stock worth $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC grew its position in Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company's stock worth $77,532,000 after purchasing an additional 23,140 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

It’s Time to Rotate Into These Russell 2000 Stocks

CVNA has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on shares of Carvana in a research note on Thursday, August 1st. They set a "neutral" rating and a $160.00 target price for the company. Wells Fargo & Company raised shares of Carvana from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $77.00 to $175.00 in a research note on Thursday, August 1st. JMP Securities lifted their target price on shares of Carvana from $150.00 to $200.00 and gave the stock a "market outperform" rating in a research note on Friday, August 2nd. Piper Sandler raised their price target on shares of Carvana from $105.00 to $151.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Finally, TD Cowen raised their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $143.73.

Carvana Company Profile

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Can This Meme Stock Stage One Last Rally?

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.

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