Paul Breaux Sells 15,000 Shares of Carvana (NYSE:CVNA) Stock

Key Points

• Insider Paul Breaux sold 15,000 shares of Carvana at $398.00 each, totaling $5.97 million, reducing his stake in the company by 15.51%.
• Carvana's stock has a market cap of $84.89 billion and a current price-to-earnings ratio of 98.87, with a consensus price target among analysts of $404.94.
• The company reported a 41.9% year-over-year revenue increase in its latest quarter, with earnings per share exceeding analyst expectations.

Carvana Co. (NYSE:CVNA - Get Free Report) insider Paul Breaux sold 15,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the completion of the transaction, the insider owned 81,716 shares of the company's stock, valued at $32,522,968. This represents a 15.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carvana Price Performance

Shares of NYSE:CVNA traded down $0.92 during trading hours on Thursday, hitting $394.49. 1,594,982 shares of the company's stock traded hands, compared to its average volume of 2,716,359. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The company's fifty day simple moving average is $363.74 and its two-hundred day simple moving average is $307.57. The company has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a price-to-earnings-growth ratio of 1.30 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm posted ($0.05) EPS. The business's revenue for the quarter was up 41.9% on a year-over-year basis. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC grew its position in shares of Carvana by 213.4% in the 2nd quarter. Corient Private Wealth LLC now owns 6,494 shares of the company's stock valued at $2,188,000 after purchasing an additional 4,422 shares during the period. American Trust acquired a new position in Carvana during the 2nd quarter worth approximately $394,000. Orion Porfolio Solutions LLC boosted its position in Carvana by 27.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,380 shares of the company's stock worth $1,476,000 after acquiring an additional 940 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Carvana during the 2nd quarter worth approximately $228,000. Finally, Marex Group plc acquired a new position in Carvana during the 2nd quarter worth approximately $4,824,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Stephens reiterated an "overweight" rating and set a $440.00 price target on shares of Carvana in a research note on Tuesday, September 23rd. Piper Sandler boosted their target price on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their target price on shares of Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price on the stock in a research note on Friday, July 25th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $404.94.

Carvana Company Profile

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.

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