Insider Selling: Carvana (NYSE:CVNA) Director Sells $2,017,985.35 in Stock

Key Points

• Carvana director J. Danforth Quayle sold 27,655 shares for about $2.02 million at an average price of $72.97, reducing his holdings by 12.87% to 187,305 shares.
• Carvana’s latest quarter showed revenue rising 42.4% year over year to $8.04 billion, above estimates, while EPS of $0.39 fell short of the $0.44 consensus.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $82.09; the stock was trading at $70.86 in the article.

Carvana Co. (NYSE:CVNA - Get Free Report) Director J Quayle sold 27,655 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $72.97, for a total value of $2,017,985.35. Following the completion of the sale, the director owned 187,305 shares in the company, valued at approximately $13,667,645.85. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

J Danforth Quayle also recently made the following trade(s):

• On Friday, October 30th, J Quayle sold 14,520 shares of Carvana stock. The shares were sold at an average price of $68.88, for a total value of $1,000,137.60.
• On Friday, August 14th, J Quayle sold 14,525 shares of Carvana stock. The stock was sold at an average price of $75.00, for a total value of $1,089,375.00.

Carvana Stock Performance

CVNA stock traded down $3.00 during trading on Thursday, reaching $70.86. 5,578,875 shares of the company's stock were exchanged, compared to its average volume of 13,003,815. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a market cap of $78.18 billion, a PE ratio of 35.57, a P/E/G ratio of 1.87 and a beta of 3.66. The company's fifty day moving average price is $65.87 and its 200-day moving average price is $68.70. The company has a quick ratio of 2.43, a current ratio of 4.05 and a debt-to-equity ratio of 0.86.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.05). Carvana had a net margin of 6.21% and a return on equity of 34.77%. The business had revenue of $8.04 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same period last year, the business posted $1.03 earnings per share. Carvana's revenue for the quarter was up 42.4% on a year-over-year basis. On average, research analysts expect that Carvana Co. will post 1.59 EPS for the current fiscal year.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the company. Ascentis Independent Advisors bought a new position in Carvana during the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC raised its position in Carvana by 152.6% in the first 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 in the last quarter. Provenance Wealth Advisors LLC bought a new stake in Carvana in the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in Carvana by 115.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 445 shares of the company's stock worth $28,000 after acquiring an additional 238 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its position in Carvana by 558.0% in the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company's stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the subject of a number of recent analyst reports. Evercore set a $75.00 target price on shares of Carvana in a research report on Thursday, July 30th. Morgan Stanley restated an "overweight" rating on shares of Carvana in a research report on Thursday, October 29th. DA Davidson reaffirmed a "neutral" rating and issued a $67.00 price target on shares of Carvana in a research note on Thursday, October 29th. Bank of America reaffirmed a "neutral" rating on shares of Carvana in a research note on Thursday, October 29th. Finally, Oppenheimer set a $90.00 price objective on shares of Carvana and gave the company an "outperform" rating in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.09.

About Carvana

Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.

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