Michael Maroone Purchases 25,000 Shares of Carvana (NYSE:CVNA) Stock

Key Points

• Director Michael Maroone bought 25,000 Carvana shares at an average price of $61.80, investing $1.545 million and increasing his direct stake by 17.41% to 168,573 shares.
• Carvana shares rose 2.7% to $67.91, while the company reported quarterly EPS of $0.42 versus expectations of $0.39 and revenue of $7.38 billion, up 52.4% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $84.14; institutional investors own 56.71% of the company.

Carvana Co. (NYSE:CVNA - Get Free Report) Director Michael Maroone bought 25,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the purchase, the director directly owned 168,573 shares of the company's stock, valued at approximately $10,417,811.40. This trade represents a 17.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Carvana Stock Up 2.7%

Carvana stock traded up $1.78 during trading on Tuesday, reaching $67.91. The stock had a trading volume of 7,785,858 shares, compared to its average volume of 14,964,482. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38. The business has a 50 day moving average price of $66.81 and a 200 day moving average price of $70.45. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The stock has a market cap of $74.49 billion, a PE ratio of 37.56, a P/E/G ratio of 2.30 and a beta of 3.46.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion during the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.51 EPS. The firm's revenue was up 52.4% on a year-over-year basis. On average, analysts predict that Carvana Co. will post 1.65 EPS for the current year.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company's stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares during the period. Vanguard Group Inc. increased its holdings in shares of Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company's stock valued at $7,082,804,000 after acquiring an additional 3,328,115 shares during the period. State Street Corp raised its position in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company's stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors raised its position in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock worth $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on CVNA shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $80.00 target price on shares of Carvana in a report on Friday. UBS Group reaffirmed a "buy" rating and set a $83.00 price target on shares of Carvana in a report on Friday. Stephens upped their price objective on Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. Barclays dropped their price objective on Carvana from $94.00 to $93.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Hovde Group boosted their target price on Carvana from $39.50 to $48.00 and gave the stock a "market perform" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.14.

About Carvana

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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