Thomas Taira Sells 10,000 Shares of Carvana Co. (NYSE:CVNA) Stock

Key Points

• Thomas Taira sold 10,000 shares of Carvana Co. for approximately $3.75 million, reducing his ownership by 7.68%
• Carvana's stock price dropped 1.9%, trading at $360.79 on the day of the report, with a market capitalization of $77.26 billion
• Carvana reported earnings of $1.28 per share for the last quarter, surpassing estimates and marking a 41.9% increase in quarterly revenue year-over-year

Carvana Co. (NYSE:CVNA - Get Free Report) insider Thomas Taira sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $375.04, for a total value of $3,750,400.00. Following the transaction, the insider owned 120,159 shares of the company's stock, valued at approximately $45,064,431.36. This represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, June 6th, Thomas Taira sold 10,000 shares of Carvana stock. The stock was sold at an average price of $350.29, for a total transaction of $3,502,900.00.
• On Friday, May 30th, Thomas Taira sold 10,000 shares of Carvana stock. The shares were sold at an average price of $325.18, for a total transaction of $3,251,800.00.
• On Wednesday, May 14th, Thomas Taira sold 20,878 shares of Carvana stock. The shares were sold at an average price of $300.00, for a total transaction of $6,263,400.00.

Carvana Stock Down 1.9%

Carvana stock traded down $6.99 during mid-day trading on Monday, reaching $360.79. The stock had a trading volume of 3,782,462 shares, compared to its average volume of 4,271,004. Carvana Co. has a one year low of $118.50 and a one year high of $413.33. The company has a 50-day moving average price of $333.58 and a two-hundred day moving average price of $268.06. The company has a market capitalization of $77.26 billion, a price-to-earnings ratio of 90.42, a PEG ratio of 1.25 and a beta of 3.57. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA - Get Free Report) last released 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. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Durable Capital Partners LP lifted its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares during the period. Whale Rock Capital Management LLC boosted its holdings in shares of Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after buying an additional 278,760 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after acquiring an additional 481,912 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CVNA shares. Bank of America lifted their target price on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday. Piper Sandler upped 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. JMP Securities increased their target price on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a report on Thursday. DA Davidson lifted their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Royal Bank Of Canada lifted their target price on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average price target of $379.65.

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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