Carvana (NYSE:CVNA) Trading Down 4.3% – What’s Next?

Carvana Co. (NYSE:CVNA)’s share price fell 4.3% during mid-day trading on Tuesday . The stock traded as low as $199.05 and last traded at $201.57. 508,086 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,454,414 shares. The stock had previously closed at $210.55.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVNA shares. Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Stephens started coverage on Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. Robert W. Baird upped their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Finally, Bank of America upped their target price on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $222.71.

Carvana Stock Down 3.2 %

The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a fifty day simple moving average of $236.95 and a 200 day simple moving average of $178.97. The firm has a market capitalization of $42.32 billion, a P/E ratio of 20,403.40 and a beta of 3.32.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. On average, equities analysts expect that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the completion of the sale, the insider now owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. The trade was a 10.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00. Following the transaction, the insider now directly owns 39,058,131 shares in the company, valued at $6,821,111,997.84. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,441,908 shares of company stock worth $289,305,785. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds have recently bought and sold shares of CVNA. Sugarloaf Wealth Management LLC bought a new position in Carvana in the third quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new stake in Carvana in the third quarter worth about $40,000. First Horizon Advisors Inc. grew its position in shares of Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after purchasing an additional 196 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Carvana in the second quarter worth about $51,000. Finally, nVerses Capital LLC purchased a new stake in shares of Carvana during the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.