Carvana (NYSE:CVNA) Stock Price Down 4.6%

Shares of Carvana Co. (NYSE:CVNA) fell 4.6% during mid-day trading on Thursday . The stock traded as low as $86.05 and last traded at $86.17. 2,273,159 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 6,779,794 shares. The stock had previously closed at $90.31.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVNA. Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $45.00 to $90.00 in a report on Friday, March 8th. JPMorgan Chase & Co. upgraded Carvana from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $25.00 to $40.00 in a report on Monday, December 4th. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. JMP Securities raised their target price on shares of Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, February 23rd. Finally, Evercore ISI raised their target price on shares of Carvana from $68.00 to $75.00 and gave the stock an “in-line” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.40.

Carvana Stock Performance

The stock has a market cap of $17.74 billion, a PE ratio of 167.23 and a beta of 3.32. The company’s 50-day moving average price is $63.65 and its 200 day moving average price is $48.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.97) EPS. As a group, equities research analysts predict that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Stephen R. Palmer sold 4,515 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.57, for a total value of $223,808.55. Following the sale, the vice president now directly owns 69,108 shares in the company, valued at $3,425,683.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Stephen R. Palmer sold 4,515 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $49.57, for a total value of $223,808.55. Following the transaction, the vice president now owns 69,108 shares of the company’s stock, valued at approximately $3,425,683.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $79.37, for a total transaction of $396,850.00. Following the completion of the transaction, the chief financial officer now directly owns 183,156 shares in the company, valued at approximately $14,537,091.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,515 shares of company stock worth $4,620,659. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Quadrature Capital Ltd lifted its stake in shares of Carvana by 128.1% in the 4th quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock worth $6,269,000 after acquiring an additional 66,386 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Carvana by 63.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock worth $131,000 after purchasing an additional 965 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the period. Wellington Management Group LLP bought a new stake in Carvana in the 4th quarter valued at $4,703,000. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its holdings in Carvana by 17.6% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares during the period. Institutional investors own 56.71% of the company’s stock.

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.