Carvana (NYSE:CVNA) Trading Down 6.3% Following Insider Selling

Carvana Co. (NYSE:CVNA) traded down 6.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $209.55 and last traded at $207.79. 1,507,937 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 4,540,763 shares. The stock had previously closed at $221.66.

Specifically, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.35, for a total value of $10,517,500.00. Following the transaction, the chief operating officer now owns 146,278 shares in the company, valued at approximately $30,769,577.30. This represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Royal Bank of Canada raised their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, DA Davidson upped their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Carvana Trading Up 0.2 %

The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a 50 day moving average of $227.77 and a 200 day moving average of $216.41. The firm has a market cap of $43.57 billion, a PE ratio of 130.19 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Whale Rock Capital Management LLC bought a new stake in Carvana during the 3rd quarter valued at $162,953,000. Norges Bank bought a new stake in shares of Carvana during the 4th quarter valued at $179,364,000. Vanguard Group Inc. lifted its holdings in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Castle Hook Partners LP bought a new position in Carvana in the 4th quarter worth about $116,020,000. Finally, Lord Abbett & CO. LLC grew its holdings in Carvana by 1,454.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after buying an additional 503,824 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.