J Danforth Quayle Sells 2,900 Shares of Carvana (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) Director J Danforth Quayle sold 2,900 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $309.97, for a total transaction of $898,913.00. Following the completion of the transaction, the director owned 41,913 shares of the company’s stock, valued at $12,991,772.61. This represents a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Carvana Stock Performance

Shares of CVNA stock opened at $318.26 on Wednesday. The stock’s 50-day moving average is $395.11 and its two-hundred day moving average is $380.21. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $486.89. The firm has a market cap of $69.65 billion, a price-to-earnings ratio of 39.58 and a beta of 3.60.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $1.10 by $3.12. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The business’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. Analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVNA has been the subject of several research analyst reports. UBS Group set a $485.00 price objective on Carvana in a report on Friday, February 20th. Barclays reduced their price target on shares of Carvana from $530.00 to $450.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Stephens reiterated an “overweight” rating and set a $519.00 price target on shares of Carvana in a research note on Thursday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $500.00 price objective on shares of Carvana in a research report on Thursday, February 19th. Finally, Gordon Haskett reduced their target price on shares of Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.59.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after acquiring an additional 1,407,762 shares during the period. Vanguard Group Inc. increased its stake in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after acquiring an additional 3,328,115 shares during the period. State Street Corp raised its holdings in Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its holdings in Carvana by 42.9% during the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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.