Carvana (NYSE:CVNA) Insider Paul Breaux Sells 15,000 Shares

Carvana Co. (NYSE:CVNA) insider Paul Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total value of $5,970,000.00. Following the transaction, the insider owned 81,716 shares in the company, valued at approximately $32,522,968. The trade was a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Price Performance

CVNA opened at $376.56 on Friday. The stock’s 50 day simple moving average is $364.64 and its 200 day simple moving average is $309.94. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The firm has a market cap of $81.04 billion, a price-to-earnings ratio of 94.38, a PEG ratio of 1.23 and a beta of 3.55.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company earned ($0.05) EPS. Carvana’s revenue for the quarter was up 41.9% compared to the same quarter last year. As a group, analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a report on Friday, July 25th. DA Davidson raised their target price on Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Citigroup reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 price objective on Carvana and gave the company a “buy” rating in a research note on Wednesday. Finally, JMP Securities lifted their price objective on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $404.94.

Institutional Trading of Carvana

A number of hedge funds have recently bought and sold shares of CVNA. Wealth Enhancement Advisory Services LLC increased its position in Carvana by 16.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock valued at $511,000 after acquiring an additional 348 shares during the last quarter. Wellington Management Group LLP increased its position in Carvana by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock valued at $7,365,000 after acquiring an additional 1,430 shares during the last quarter. Versant Capital Management Inc increased its position in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock valued at $61,000 after acquiring an additional 82 shares during the last quarter. GAMMA Investing LLC increased its position in Carvana by 27,368.4% during the first quarter. GAMMA Investing LLC now owns 215,352 shares of the company’s stock valued at $45,026,000 after acquiring an additional 214,568 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Carvana by 5.7% during the first quarter. Rhumbline Advisers now owns 208,856 shares of the company’s stock valued at $43,668,000 after acquiring an additional 11,240 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.