Carvana (NYSE:CVNA) Insider Sells 16,789 Shares

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 16,789 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $70.58, for a total transaction of $1,184,967.62. Following the completion of the transaction, the insider directly owned 366,987 shares of the company’s stock, valued at $25,901,942.46. This trade represents a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Stock Down 2.3%

Carvana stock traded down $1.52 during mid-day trading on Wednesday, reaching $65.38. 8,549,373 shares of the company were exchanged, compared to its average volume of 13,743,702. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm has a market cap of $71.95 billion, a P/E ratio of 36.16, a PEG ratio of 2.04 and a beta of 3.49. The business has a fifty day moving average of $69.43 and a 200 day moving average of $68.48. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business’s revenue was up 52.4% compared to the same quarter last year. During the same period last year, the business posted $1.51 EPS. Research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of a number of recent research reports. UBS Group reiterated a “buy” rating and issued a $83.00 target price on shares of Carvana in a report on Friday, July 31st. Hovde Group raised their price target on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Citizens Jmp cut their price objective on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $80.00 price objective on shares of Carvana in a research note on Friday, July 31st. Finally, Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.14.

Institutional Investors Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Carvana by 345.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after acquiring an additional 2,579,295 shares during the last quarter. Amundi increased its holdings in shares of Carvana by 379.7% during the second quarter. Amundi now owns 2,421,045 shares of the company’s stock valued at $159,353,000 after acquiring an additional 1,916,349 shares in the last quarter. Capital Research Global Investors raised its position in shares of Carvana by 42.9% in 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 during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Carvana by 384.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock worth $124,933,000 after purchasing an additional 1,506,145 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Carvana by 372.0% in the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock worth $117,939,000 after purchasing an additional 1,412,188 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.