Vroom, Inc. (NASDAQ:VRM) CFO David K. Jones Sells 25,000 Shares

Vroom, Inc. (NASDAQ:VRM) CFO David K. Jones sold 25,000 shares of the stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $43.38, for a total value of $1,084,500.00. Following the completion of the sale, the chief financial officer now owns 74,813 shares of the company’s stock, valued at $3,245,387.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vroom stock opened at $42.73 on Friday. The firm has a market capitalization of $5.83 billion and a price-to-earnings ratio of -22.85. Vroom, Inc. has a 52 week low of $26.96 and a 52 week high of $75.49. The business’s 50-day moving average is $42.51.

Vroom (NASDAQ:VRM) last issued its quarterly earnings data on Wednesday, May 12th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.05. Vroom had a negative return on equity of 19.28% and a negative net margin of 15.19%. The company had revenue of $591.12 million for the quarter, compared to analyst estimates of $511.75 million. During the same period last year, the company earned ($0.32) earnings per share. Vroom’s quarterly revenue was up 57.3% compared to the same quarter last year. Research analysts predict that Vroom, Inc. will post -2.01 EPS for the current year.

VRM has been the topic of a number of research reports. Zacks Investment Research raised Vroom from a “sell” rating to a “hold” rating in a report on Wednesday, May 5th. Truist cut their price objective on Vroom from $58.00 to $54.00 in a report on Thursday, March 4th. JMP Securities increased their price objective on Vroom from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 13th. Wells Fargo & Company increased their price objective on Vroom from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 16th. Finally, Stifel Nicolaus cut their price objective on Vroom from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, March 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $57.00.

Institutional investors and hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC grew its holdings in Vroom by 6.1% in the fourth quarter. Nuveen Asset Management LLC now owns 239,355 shares of the company’s stock valued at $9,807,000 after purchasing an additional 13,859 shares during the period. Principal Financial Group Inc. lifted its position in shares of Vroom by 12.7% in the fourth quarter. Principal Financial Group Inc. now owns 656,705 shares of the company’s stock valued at $26,905,000 after acquiring an additional 74,148 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Vroom by 131.1% in the fourth quarter. Baillie Gifford & Co. now owns 9,868,922 shares of the company’s stock valued at $404,330,000 after acquiring an additional 5,599,391 shares in the last quarter. Jabodon PT Co. purchased a new position in shares of Vroom in the fourth quarter valued at approximately $455,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of Vroom in the first quarter valued at approximately $308,000. 88.88% of the stock is currently owned by institutional investors.

Vroom Company Profile

Vroom, Inc operates an e-commerce platform for buying and selling of new and used cars in the United States. It also offers financing solutions. The company was formerly known as Auto America, Inc and changed its name to Vroom, Inc in July 2015. The company was incorporated in 2012 and is headquartered in New York, New York.

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