Carvana (NYSE:CVNA) Director Sells $12,381,715.52 in Stock

Carvana Co. (NYSE:CVNA) Director Michael Maroone sold 30,928 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the completion of the sale, the director directly owned 143,573 shares of the company’s stock, valued at approximately $57,478,014.82. This represents a 17.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Carvana Stock Performance

CVNA opened at $400.34 on Friday. The company has a market cap of $87.09 billion, a P/E ratio of 91.40, a price-to-earnings-growth ratio of 1.45 and a beta of 3.51. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The firm’s 50-day moving average price is $346.53 and its 200-day moving average price is $345.70. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Barclays assumed coverage on Carvana in a report on Tuesday, November 11th. They issued an “overweight” rating and a $390.00 price objective on the stock. UBS Group started coverage on Carvana in a research note on Monday, December 1st. They issued a “buy” rating and a $450.00 price objective for the company. BTIG Research reiterated a “buy” rating and issued a $450.00 target price on shares of Carvana in a research report on Thursday, October 30th. Finally, Bank of America cut their price target on shares of Carvana from $405.00 to $385.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $422.10.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. increased its holdings in shares of Carvana by 28.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares in the last quarter. Warren Street Wealth Advisors LLC grew its position in Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after buying an additional 31 shares during the period. MAI Capital Management increased its holdings in Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after buying an additional 31 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Carvana by 23.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in shares of Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after acquiring an additional 31 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.