Carvana (NYSE:CVNA) Director Sells $1,016,750.00 in Stock

Carvana Co. (NYSE:CVNA) Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the sale, the director owned 214,960 shares of the company’s stock, valued at approximately $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Trading Down 5.5%

Shares of Carvana stock opened at $64.09 on Friday. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The firm has a market cap of $70.30 billion, a PE ratio of 38.98, a PEG ratio of 10.82 and a beta of 3.45. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The company has a 50 day simple moving average of $71.20 and a two-hundred day simple moving average of $75.23.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. Analysts expect that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its stake in shares of Carvana by 24.1% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $294,000 after acquiring an additional 181 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Carvana by 22.5% during the first quarter. NewEdge Advisors LLC now owns 22,356 shares of the company’s stock worth $7,028,000 after acquiring an additional 4,106 shares in the last quarter. Alpha Capital Advisors Inc. ADV increased its stake in shares of Carvana by 40.0% in the first quarter. Alpha Capital Advisors Inc. ADV now owns 700 shares of the company’s stock worth $220,000 after buying an additional 200 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Carvana by 146.5% in the first quarter. Glenmede Trust Co. NA now owns 1,743 shares of the company’s stock worth $548,000 after buying an additional 1,036 shares during the period. Finally, Groupama Asset Managment purchased a new position in shares of Carvana in the first quarter worth $249,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Carvana in a research report on Friday, June 5th. Jefferies Financial Group dropped their target price on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. UBS Group reissued a “buy” rating and set a $104.00 price target (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Carvana in a research note on Friday. Finally, Gordon Haskett lifted their price target on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.14.

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.