Insider Selling: Carvana (NYSE:CVNA) Insider Sells 3,770 Shares of Stock

Key Points

• Insider Thomas Taira sold 3,770 shares on April 8 at an average price of $341 for about $1.29M, trimming his stake by 6.05% to 58,564 shares; the transaction was executed under a pre-arranged Rule 10b5-1 plan.
• Carvana will enact a 5-for-1 stock split on May 7 and recently reported a strong quarterly beat of $4.22 EPS versus $1.10 expected, with revenue up 58% year-over-year.
• Analysts have an average rating of Moderate Buy with a consensus price target of $435.59; shares trade around $337 with a 52-week range of $192.56–$486.89.

Carvana Co. (NYSE:CVNA - Get Free Report) insider Thomas Taira sold 3,770 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $341.00, for a total value of $1,285,570.00. Following the completion of the transaction, the insider owned 58,564 shares of the company's stock, valued at approximately $19,970,324. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 9th, Thomas Taira sold 953 shares of Carvana stock. The stock was sold at an average price of $325.00, for a total value of $309,725.00.
• 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 value of $417,271.38.

Carvana Stock Performance

Shares of NYSE CVNA traded up $10.13 during midday trading on Friday, hitting $337.06. 1,921,806 shares of the company's stock were exchanged, compared to its average volume of 3,753,525. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. Carvana Co. has a 12 month low of $192.56 and a 12 month high of $486.89. The company's 50 day moving average price is $333.24 and its 200 day moving average price is $370.44. The firm has a market capitalization of $73.76 billion, a PE ratio of 41.92 and a beta of 3.61.

Shares of Carvana are scheduled to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, May 6th.

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

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research analyst reports. Weiss Ratings downgraded Carvana from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 24th. Wells Fargo & Company reduced their price target on Carvana from $525.00 to $425.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Gordon Haskett reduced their price target on Carvana from $350.00 to $335.00 and set a "hold" rating for the company in a research note on Monday. William Blair restated an "outperform" rating on shares of Carvana in a research note on Friday, March 13th. Finally, Morgan Stanley restated an "overweight" rating on shares of Carvana in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $435.59.

Institutional Trading of Carvana

Several institutional investors have recently added to or reduced their stakes in CVNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Carvana in the 4th quarter valued at $29,000. Farmers & Merchants Investments Inc. acquired a new position in Carvana in the 4th quarter valued at $29,000. ORG Partners LLC raised its holdings in Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company's stock valued at $33,000 after acquiring an additional 87 shares in the last quarter. Motiv8 Investments LLC acquired a new position in Carvana in the 4th quarter valued at $33,000. Finally, Salomon & Ludwin LLC raised its holdings in Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company's stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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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