Carvana (NYSE:CVNA) Director Michael Maroone Buys 25,000 Shares of Stock

Carvana Co. (NYSE:CVNA) Director Michael Maroone bought 25,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $61.80 per share, with a total value of $1,545,000.00. Following the purchase, the director directly owned 168,573 shares of the company’s stock, valued at approximately $10,417,811.40. This trade represents a 17.41% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Carvana Stock Performance

CVNA stock traded up $1.78 during trading on Tuesday, hitting $67.91. The company had a trading volume of 7,785,858 shares, compared to its average volume of 14,964,482. The firm has a market cap of $74.49 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.30 and a beta of 3.46. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a 50-day moving average price of $66.81 and a 200-day moving average price of $70.45. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the business earned $1.51 EPS. The firm’s revenue was up 52.4% compared to the same quarter last year. On average, analysts expect that Carvana Co. will post 1.65 earnings per share for the current year.

Institutional Trading of Carvana

A number of institutional investors have recently added to or reduced their stakes in CVNA. Ascentis Independent Advisors purchased a new position in Carvana in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the period. Finally, Motiv8 Investments LLC acquired a new stake in shares of Carvana in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Citigroup cut their price objective on shares of Carvana from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $80.00 target price on shares of Carvana in a research note on Friday. BNP Paribas Exane lowered their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. Finally, BTIG Research dropped their price target on shares of Carvana from $97.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

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.