Carvana (NYSE:CVNA) Insider Sells 5,596 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 5,596 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $75.74, for a total value of $423,841.04. Following the sale, the insider owned 347,897 shares of the company’s stock, valued at $26,349,718.78. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Thomas Taira also recently made the following trade(s):

• On Monday, October 12th, Thomas Taira sold 5,597 shares of Carvana stock. The stock was sold at an average price of $65.00, for a total transaction of $363,805.00.
• On Monday, September 14th, Thomas Taira sold 16,789 shares of Carvana stock. The shares were sold at an average price of $70.58, for a total transaction of $1,184,967.62.

Carvana Stock Down 4.1%

Shares of NYSE:CVNA traded down $3.00 during trading on Thursday, reaching $70.86. The stock had a trading volume of 5,578,875 shares, compared to its average volume of 13,003,815. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a market capitalization of $78.18 billion, a P/E ratio of 35.57, a PEG ratio of 1.87 and a beta of 3.66. The company has a current ratio of 4.05, a quick ratio of 2.43 and a debt-to-equity ratio of 0.86. The firm’s 50-day simple moving average is $65.81 and its 200 day simple moving average is $68.58.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). The firm had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. The firm’s quarterly revenue was up 42.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. As a group, research analysts expect that Carvana Co. will post 1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVNA. Stephens restated an “overweight” rating and issued a $83.00 target price (down from $91.50) on shares of Carvana in a research note on Tuesday, October 6th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $75.00 price target (down from $80.00) on shares of Carvana in a report on Friday, October 23rd. Bank of America reaffirmed a “neutral” rating on shares of Carvana in a research report on Thursday, October 29th. Zacks Research lowered Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, Citizens Jmp raised their price objective on Carvana from $83.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Ascentis Independent Advisors acquired a new stake in shares of Carvana during the first quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in Carvana during the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Carvana by 115.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 445 shares of the company’s stock worth $28,000 after acquiring an additional 238 shares during the period. Finally, Transamerica Financial Advisors LLC grew its stake in Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.