Carvana (NYSE:CVNA) Insider Sells $309,725.00 in Stock

Key Points

• Insider sale: On March 9, Carvana insider Thomas Taira sold 953 shares at an average price of $325 for $309,725, cutting his stake to 64,997 shares (a 1.45% decrease).
• Ongoing insider selling: Taira has previously sold large blocks this quarter including 10,000 shares at $475 on Dec. 12, 1,174 shares at $447 on Jan. 8, and 1,047 shares at $398.54 on Feb. 9, totaling several million dollars.
• Company performance and sentiment: Carvana reported strong Q results (EPS $4.22 vs $1.10 expected; revenue $5.6B, +58% y/y), the stock traded near $309.49, and analysts hold a "Moderate Buy" consensus with an average price target of $440.59.

Carvana Co. (NYSE:CVNA - Get Free Report) insider Thomas Taira sold 953 shares of Carvana stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $325.00, for a total value of $309,725.00. Following the transaction, the insider directly owned 64,997 shares of the company's stock, valued at $21,124,025. The trade was a 1.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, February 9th, Thomas Taira sold 1,047 shares of Carvana stock. The stock was sold at an average price of $398.54, for a total transaction of $417,271.38.
• On Thursday, January 8th, Thomas Taira sold 1,174 shares of Carvana stock. The shares were sold at an average price of $447.00, for a total transaction of $524,778.00.
• On Friday, December 12th, Thomas Taira sold 10,000 shares of Carvana stock. The shares were sold at an average price of $475.00, for a total transaction of $4,750,000.00.

Carvana Price Performance

NYSE:CVNA traded down $9.28 during mid-day trading on Wednesday, hitting $309.49. 2,524,673 shares of the stock traded hands, compared to its average volume of 4,174,792. The business's 50-day moving average price is $395.11 and its 200 day moving average price is $380.21. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The company has a market cap of $67.73 billion, a PE ratio of 38.49 and a beta of 3.60. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $486.89.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $3.12. The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The business's revenue for the quarter was up 58.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. On average, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley restated an "overweight" rating on shares of Carvana in a research report on Thursday, January 8th. DA Davidson lowered their price target on Carvana from $470.00 to $320.00 and set a "neutral" rating on the stock in a report on Thursday, February 19th. Wedbush cut their price objective on Carvana from $500.00 to $425.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. Royal Bank Of Canada decreased their price objective on shares of Carvana from $500.00 to $440.00 and set an "outperform" rating on the stock in a research report on Thursday, February 19th. Finally, Citigroup lowered their target price on shares of Carvana from $550.00 to $465.00 and set a "buy" rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $440.59.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Carvana in the 4th quarter valued at $29,000. Farmers & Merchants Investments Inc. bought a new stake in Carvana in the fourth quarter worth $29,000. ORG Partners LLC boosted its position in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company's stock valued at $33,000 after buying an additional 87 shares during the period. Motiv8 Investments LLC bought a new position in shares of Carvana during the fourth quarter valued at about $33,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Carvana by 112.5% during the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company's stock valued at $37,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.

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