Insider Selling: Carvana (NYSE:CVNA) Director Sells 2,900 Shares of Stock

Carvana Co. (NYSE:CVNA) Director J Danforth Quayle sold 2,900 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $309.97, for a total value of $898,913.00. Following the sale, the director owned 41,913 shares of the company’s stock, valued at $12,991,772.61. This represents a 6.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Carvana Price Performance

NYSE CVNA traded up $11.04 during trading hours on Monday, reaching $328.74. The company’s stock had a trading volume of 3,087,266 shares, compared to its average volume of 4,250,693. The company has a market capitalization of $71.94 billion, a price-to-earnings ratio of 40.89 and a beta of 3.60. The firm’s 50-day moving average price is $399.42 and its 200-day moving average price is $380.56. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $486.89. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. Carvana’s revenue for the quarter was up 58.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after purchasing an additional 1,407,762 shares during the period. Vanguard Group Inc. increased its holdings in Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares during the period. State Street Corp raised its position in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its position in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after buying an additional 1,382,852 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVNA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Carvana from $600.00 to $519.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating on shares of Carvana in a research note on Thursday, January 8th. Citigroup dropped their target price on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Wells Fargo & Company reduced their price target on Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, UBS Group set a $485.00 price target on Carvana in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $440.59.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.