Carvana Co. (NYSE:CVNA) Director Sells $2,460,960.00 in Stock

Carvana Co. (NYSE:CVNA) Director Michael E. Maroone sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $273.44, for a total value of $2,460,960.00. Following the completion of the transaction, the director now directly owns 143,504 shares of the company’s stock, valued at $39,239,733.76. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Carvana Stock Performance

Shares of Carvana stock traded up $11.32 during trading hours on Monday, hitting $279.44. 4,087,114 shares of the company were exchanged, compared to its average volume of 3,919,104. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $293.62. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The business has a 50-day moving average of $209.94 and a 200-day moving average of $227.40. The stock has a market capitalization of $59.57 billion, a price-to-earnings ratio of 177.99 and a beta of 3.61.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Carvana’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CVNA. Quent Capital LLC purchased a new position in Carvana in the fourth quarter worth $28,000. Global Retirement Partners LLC raised its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Carvana in the fourth quarter valued at $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana in the first quarter valued at $33,000. Finally, Venturi Wealth Management LLC increased its position in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVNA shares. Royal Bank of Canada upped their price target on Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI lowered their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Wedbush raised Carvana to a “hold” rating in a report on Thursday. Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a report on Monday, March 31st. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $268.59.

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.