Insider Buying: Carvana (NYSE:CVNA) Director Purchases $1,545,000.00 in Stock

Carvana Co. (NYSE:CVNA) Director Michael Maroone acquired 25,000 shares of Carvana stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the transaction, the director directly owned 168,573 shares in the company, valued at $10,417,811.40. This trade represents a 17.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Carvana Stock Down 1.5%

Shares of NYSE:CVNA opened at $68.46 on Friday. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The business has a 50 day simple moving average of $66.60 and a two-hundred day simple moving average of $69.95. The firm has a market capitalization of $75.09 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 2.56 and a beta of 3.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, equities analysts predict that Carvana Co. will post 1.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Trust Asset Management LLC lifted its position in shares of Carvana by 400.0% in the 2nd quarter. Trust Asset Management LLC now owns 7,785 shares of the company’s stock worth $512,000 after purchasing an additional 6,228 shares during the period. Annex Advisory Services LLC raised its stake in Carvana by 405.8% in the second quarter. Annex Advisory Services LLC now owns 10,643 shares of the company’s stock worth $701,000 after buying an additional 8,539 shares in the last quarter. Tema ETFs LLC raised its stake in Carvana by 451.0% in the second quarter. Tema ETFs LLC now owns 13,919 shares of the company’s stock worth $916,000 after buying an additional 11,393 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Carvana by 400.0% during the second quarter. E. Ohman J or Asset Management AB now owns 21,000 shares of the company’s stock worth $1,382,000 after buying an additional 16,800 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in Carvana by 277.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 345,837 shares of the company’s stock valued at $22,763,000 after acquiring an additional 254,114 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. UBS Group reaffirmed a “buy” rating and issued a $83.00 price target on shares of Carvana in a research note on Friday, July 31st. Stephens lifted their price objective on shares of Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Citigroup lowered their price objective on shares of Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Carvana in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Company Profile

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.