Carvana (NYSE:CVNA) Insider Sells $447,032.30 in Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 5,590 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $79.97, for a total transaction of $447,032.30. Following the sale, the insider directly owned 60,452 shares in the company, valued at $4,834,346.44. This represents a 8.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Thomas Taira also recently made the following trade(s):

• On Wednesday, April 8th, Thomas Taira sold 18,850 shares of Carvana stock. The stock was sold at an average price of $68.20, for a total transaction of $1,285,570.00.
• On Monday, March 9th, Thomas Taira sold 4,765 shares of Carvana stock. The stock was sold at an average price of $65.00, for a total transaction of $309,725.00.

Carvana Stock Down 5.3%

Shares of CVNA opened at $69.83 on Thursday. The stock has a market capitalization of $76.59 billion, a PE ratio of 42.47, a P/E/G ratio of 14.86 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 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The company’s 50-day simple moving average is $75.08 and its 200-day simple moving average is $77.09.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. Analysts forecast that Carvana Co. will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in Carvana by 124.9% in the 3rd quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after buying an additional 147,683 shares during the period. Gavilan Investment Partners LLC acquired a new position in shares of Carvana during the 3rd quarter worth $26,030,000. Massachusetts Financial Services Co. MA raised its stake in shares of Carvana by 11.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock worth $240,476,000 after buying an additional 64,424 shares during the last quarter. Strs Ohio raised its stake in shares of Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after buying an additional 17,878 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Carvana by 301.4% during the 3rd quarter. Intech Investment Management LLC now owns 7,230 shares of the company’s stock worth $2,727,000 after buying an additional 5,429 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVNA. Citizens Jmp increased their price target on shares of Carvana from $92.00 to $103.00 and gave the stock a “market outperform” rating in a research report on Friday, May 1st. Evercore raised their target price on shares of Carvana from $78.00 to $80.00 in a report on Tuesday, April 28th. Robert W. Baird set a $88.00 target price on shares of Carvana in a report on Thursday, April 30th. Needham & Company LLC raised their target price on shares of Carvana from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.75.

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.