Carvana (NYSE:CVNA) Stock Price Down 6.3% – Time to Sell?

Shares of Carvana Co. (NYSE:CVNA) were down 6.3% on Wednesday . The stock traded as low as $209.55 and last traded at $207.79. Approximately 1,507,937 shares changed hands during trading, a decline of 67% from the average daily volume of 4,540,763 shares. The stock had previously closed at $221.66.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. DA Davidson raised their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Finally, Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $263.88.

Carvana Trading Down 8.1 %

The firm’s 50-day simple moving average is $228.48 and its 200-day simple moving average is $216.58. The firm has a market capitalization of $43.44 billion, a PE ratio of 129.82 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,784 shares of company stock worth $27,524,344. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Quent Capital LLC bought a new position in Carvana in the fourth quarter worth $28,000. Global Retirement Partners LLC lifted its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Rialto Wealth Management LLC bought a new stake in Carvana during the fourth quarter worth about $31,000. ORG Wealth Partners LLC purchased a new stake in Carvana in the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc bought a new position in shares of Carvana during the fourth quarter valued at approximately $42,000. Hedge funds and other 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.