Insider Selling: Carvana Co. (NYSE:CVNA) Director Sells 9,000 Shares of Stock

Carvana Co. (NYSE:CVNA - Get Free Report) Director Michael E. Maroone sold 9,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $273.44, for a total transaction of $2,460,960.00. Following the sale, the director now directly owns 143,504 shares in the company, valued at approximately $39,239,733.76. The trade was a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Carvana Trading Down 2.6%

Carvana stock traded down $8.05 during midday trading on Thursday, reaching $297.48. The stock had a trading volume of 1,987,033 shares, compared to its average volume of 3,926,655. Carvana Co. has a twelve month low of $97.55 and a twelve month high of $311.88. The stock has a market capitalization of $63.41 billion, a PE ratio of 189.37 and a beta of 3.61. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock's 50-day simple moving average is $215.64 and its 200 day simple moving average is $228.91.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quent Capital LLC acquired a new position in shares of Carvana in the fourth quarter worth about $28,000. Brooklyn Investment Group lifted its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana in the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the first quarter worth about $33,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CVNA. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Robert W. Baird increased their target price on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Stephens reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Wells Fargo & Company raised their price objective on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Piper Sandler boosted their price objective on shares of Carvana from $225.00 to $230.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.18.

Carvana Company Profile

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.