Carvana (NYSE:CVNA) Insider Thomas Taira Sells 5,597 Shares

Carvana Co. (NYSE:CVNA) insider Thomas Taira sold 5,597 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $67.15, for a total transaction of $375,838.55. Following the transaction, the insider owned 315,075 shares of the company’s stock, valued at approximately $21,157,286.25. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.

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

• On Friday, May 8th, Thomas Taira sold 5,590 shares of Carvana stock. The shares were sold at an average price of $79.97, for a total value of $447,032.30.
• 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 value of $1,285,570.00.

Carvana Stock Up 0.3%

NYSE CVNA traded up $0.23 during trading hours on Tuesday, hitting $69.68. 8,179,926 shares of the company traded hands, compared to its average volume of 16,223,426. 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 business’s 50-day moving average is $70.84 and its 200-day moving average is $75.17. The stock has a market capitalization of $76.43 billion, a price-to-earnings ratio of 42.39, a P/E/G ratio of 11.23 and a beta of 3.45. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Sell-side analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVNA shares. Wedbush dropped their price target on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Robert W. Baird set a $88.00 price objective on shares of Carvana in a research report on Friday, May 15th. Morgan Stanley lifted their price objective on shares of Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Friday, March 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Carvana in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Hedge Funds Weigh In On Carvana

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

Carvana Company Profile

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.