Carvana Co. (NYSE:CVNA - Get Free Report) insider Daniel J. Gill sold 70,166 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the completion of the sale, the insider now directly owns 201,087 shares of the company's stock, valued at $56,591,914.41. This trade represents a 25.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Carvana Trading Down 2.6%
Shares of NYSE:CVNA traded down $8.05 during midday trading on Thursday, reaching $297.48. The company had a trading volume of 1,987,033 shares, compared to its average volume of 3,926,655. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 1-year low of $97.55 and a 1-year high of $311.88. The firm has a market cap of $63.41 billion, a price-to-earnings ratio of 189.37 and a beta of 3.61. The company has a fifty day simple moving average of $215.64 and a two-hundred day simple moving average of $228.91.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the company posted $0.23 EPS. Carvana's revenue for the quarter was up 38.3% on a year-over-year basis. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.
Institutional Investors Weigh In On Carvana
A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Charles Schwab Investment Management Inc. boosted its holdings in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares in the last quarter. Plato Investment Management Ltd raised its stake in shares of Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock valued at $1,062,000 after acquiring an additional 2,994 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock valued at $97,305,000 after acquiring an additional 130,942 shares in the last quarter. Oak Thistle LLC raised its stake in shares of Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after acquiring an additional 1,738 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Carvana by 33.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after acquiring an additional 95,497 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CVNA has been the subject of several research analyst reports. Robert W. Baird increased their target price on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JMP Securities reduced their target price on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Royal Bank of Canada increased their target price on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $269.18.
Check Out Our Latest Research Report on CVNA
About Carvana
(
Get Free Report)
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.
Read More
Before you consider Carvana, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Carvana wasn't on the list.
While Carvana currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
