Carvana (NYSE:CVNA) Insider Sells $1,184,967.62 in Stock

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 16,789 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $70.58, for a total value of $1,184,967.62. Following the transaction, the insider directly owned 366,987 shares in the company, valued at approximately $25,901,942.46. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carvana Trading Down 1.1%

Carvana stock opened at $65.13 on Friday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The business’s fifty day moving average is $69.37 and its 200 day moving average is $68.43. The stock has a market capitalization of $71.67 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 1.90 and a beta of 3.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 EPS. On average, sell-side analysts predict that Carvana Co. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of several research reports. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Citigroup reiterated a “market outperform” rating on shares of Carvana in a research note on Monday, August 31st. BTIG Research reissued a “buy” rating and set a $87.00 price target on shares of Carvana in a report on Tuesday, August 18th. Robert W. Baird set a $72.00 price target on Carvana in a research note on Thursday, July 30th. Finally, Hovde Group lifted their price objective on Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after buying an additional 2,579,295 shares in the last quarter. Amundi lifted its position in shares of Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock valued at $159,353,000 after buying an additional 1,916,349 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after acquiring an additional 1,711,144 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Carvana by 384.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock valued at $124,933,000 after acquiring an additional 1,506,145 shares during the period. Finally, Bank of America Corp DE increased its holdings in Carvana by 372.0% in the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock worth $117,939,000 after acquiring an additional 1,412,188 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.