Insider Selling: Carvana (NYSE:CVNA) Insider Sells 253,639 Shares of Stock

Carvana Co. (NYSE:CVNA) insider Daniel Gill sold 253,639 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $71.46, for a total value of $18,125,042.94. Following the completion of the sale, the insider owned 773,548 shares of the company’s stock, valued at $55,277,740.08. The trade was a 24.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Carvana Trading Down 0.9%

CVNA traded down $0.62 during trading on Tuesday, hitting $71.38. 9,959,162 shares of the stock were exchanged, compared to its average volume of 13,071,145. The firm has a 50 day simple moving average of $65.83 and a 200 day simple moving average of $69.31. The firm has a market cap of $78.55 billion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 1.75 and a beta of 3.55. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 36.63%. The firm had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 42.4% on a year-over-year basis. As a group, equities analysts expect that Carvana Co. will post 1.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVNA. BNP Paribas Exane cut their price target on Carvana from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Royal Bank Of Canada set a $82.00 price objective on shares of Carvana and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $75.00 target price (down from $80.00) on shares of Carvana in a research report on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $85.00 price target on shares of Carvana in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.09.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC purchased a new stake in shares of Carvana during the 3rd quarter worth $25,000. Ascentis Independent Advisors bought a new stake in Carvana during the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake in Carvana by 558.0% in the second 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. Finally, GoalVest Advisory LLC raised its holdings in Carvana by 400.0% in the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock worth $33,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.