Carvana (NYSE:CVNA) Trading Down 6.1% Following Insider Selling

Carvana Co. (NYSE:CVNA)’s share price fell 6.1% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $176.77 and last traded at $175.15. 636,863 shares were traded during trading, a decline of 83% from the average session volume of 3,819,001 shares. The stock had previously closed at $186.50.

Specifically, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVNA shares. Royal Bank of Canada increased their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Evercore ISI cut their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Finally, Bank of America cut their price target on Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.71.

Carvana Trading Up 5.9 %

The stock has a market capitalization of $37.59 billion, a PE ratio of 112.32 and a beta of 3.56. The firm has a 50-day moving average price of $227.84 and a 200-day moving average price of $214.38. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC grew its stake in shares of Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after acquiring an additional 51 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 shares during the period. Great Lakes Advisors LLC grew its stake in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares during the period. 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.